Entered on 17 Jul 18 on 20199 with a stop loss at 19546.15
TSL update on 24Jul 18 from 19546.15 to 22653.80
TSL update on 03 Aug 18 from 22653.80 to 23220
TSL update on 09 Aug 18 from 23220 to 23602
TSL update on 17 Aug 18 from 23602 to 24713
Current Trailing Stop loss = 24713
In case of hitting stop loss confirmed profit of 4514 points.
The stock has displayed the tendency to congest or form a nice VCP pattern, as described by Mark Minervini. Another such pattern is in progress now. A breakout above the green line in the chart will be a sign of strength and would have me interested in buying this stock.
10009 was an approx 38% correction of the last up swing.
But that seems to be a 5th extension and may
correct more towards 50% 9000 or even 7600 level.
The stock is worth' investing for a target 16000 in long term.
NSE: 3MINDIA is beautifully forming a Symmetric Triangle with a Positive RSI Divergance on Weekly Charts...
This scrip is getting ready for making a big move in next few weeks...
Current Market Price is 11,600
Currently it is in downtrend and may fall upto 11,000 to 11,150 and could take support over 100 Days Moving Average which would be opportunity for...
3M India looks to be fitting itself into a neat contracting triangle pattern.
Assuming the pattern holds, long positions can be entered as a swing trade at current levels with targets of closer to its previous highs/top range of around 15150. Any breakdown from the range is an exit. Neat risk reward.