Possibility of a breakout in ADVENZYMESPossibility of a breakout in ADVENZYMES
Entry: After breakout confirmation
Targets: 300, 325 & 350
DISCLAIMER: The ideas shared are only for educational purpose. The markets are very volatile, so plan your trades accordingly. Please trade with stop loss. I am not SEBI registered.
ADVENZYMES trade ideas
Breakdown-Ascending triangle, Short below 267.30-268, Target-225Advanced Enzyme has given breakdown from ascending triangle . The measured downside is 65 rs . Immediate support is at 267.30-268 rs as it has taken support at that level but is unable to surpass 20 EMA which indicates downside to continue. Watch for 267.30-268 rs level. If it brokes this support it may move down to 225 rs level. (NOTE : It is not an investment/ trading idea. It is just for learning purpose)
Advanced Enzymes - Technically PositiveAdvenzymes has taken a dip of about 40% from its all time high of 503.70 on 19/05/2021. However, fundamentals have not fallen to the comparable intensity.
Positive Triggers:
1. Positive RSI Divergence: 2 times positive RSI divergence within short period of time
2. Prices moving up after a healthy consolidation within same range for longer time
3. W Pattern is in formation
4. Handle, from the Cup and Handle Pattern, will be in formation if price move upwards. And, that pattern will be made over a pretty long period i.e., from October 2016.
Key Resistances:
1. 334
2. 350
3. 374
4. 415
Positional buyAdvanced Enzyme Technologies Limited is engaged in the business
of manufacturing and sales of enzymes i.e over 70 enzymes and probiotics.
Market Cap = ₹ 4,528 Cr.
Attention :- NEVER JUMP INTO THE STOCK ABRUPTLY.
STRICT FOLLOWING OF LEVEL IS REQ. THIS STOCK IS VERY TRICKY AND OPERATORS FAV ONE.
All the details are mentioned in the charts.
Any quires/clarifications required
Kindly comment.
Note :- The analysis is made for study purpose only. Nowhere author is suggesting to buy/sell.
Before taking any position it is advised to consult your financial advisor.
ADVANCED ENZYMESDISCLOSURE
This is only for educational purpose
This is not a recommendation
I am not SEBI registered
Do not TRADE/INVEST basis what I publish here
I am not responsible for your loss or gain
It is prudent to assume that I have ulterior motives in publishing this Idea
I and my clients might or might not have a position, I and my clients might or might not have a opposite position
ADVENZYMES Buy signal , price at supportI will buy ADVENZYMES because :
It has been taking support .
It has touched the support 2 times and has not been able to break it.
So will be looking at buying opportunities.
If it breaks the support look at shorting
Entry : 363/370
Target : 500
Stop loss : 333
FY21-22 Swing Trade Idea #175: Long on ADVENZYMES This is a public swing trade idea (other private ideas accessible through website) and is only for Learning and observational purpose. Please understand your risk and take full responsibility of your actions. We would comment on any further updates on our entry, targets and stop-loss on this idea, so make sure to follow if you want to get further updates. Our objective to help anyone who wants to learn technical analysis using charts. You can post your queries in comment section here and we will try to answer asap.