You can buy this share in any dip with stop loss , you can also imitate a buying here buy at current price 390 with SL of 361 target 474 Thanks
Weekly Breakout chart Been consolidating for 5 yrs Need bit of patience if entering , As it is an Weekly Breakout. Can Enter with the SL of 408 DCB . Big SL so shud add less Quantity . Can add more if it retest the support and moves up again
#Ahluwalia Contra cmp @ 450 add till @ 420 target @ 590 fresh break out done
Ahluwalia construction good price action with volume also good clossing of weekly basing
Ahluwalia Cont Ind Ltd trading in channel. also today Aditya birla sunlife mutual fund buy through bulk deal 815000 shares @369.50 Rs.
Trade Logic: 1. Respected Double top formation and reached its target. Now moving up. 2. Gap filling also done. 3. Stock trying to break it's all time highest closing from 2018 i.e., 421.50 4. Volatility compression seen from July-August (~2 Months). Refer Flag and Pole Pattern on charts. For clear understanding switch to line chart.
Sell at 278 275 - Target 1 272- Target 2 Stoploss 280
Ahluwalia Contracts near multiple breakouts. 200 SMA and Trendline BO above 306.
Buy at CMP and on dips till 300 Target 360/400 and beyond. Fundementally good share hence no SL but if you want to keep then it should be 260 on closing basis.
As seen there is a confluence of two supports coinciding. Quick a formidable force to beat for the bears: - Strong support between 300 to 320 formed in two time frames - 200 day EMA coinciding with this support zone. The stock bounced off after testing this last week. This support should hold and stock should move to test 400 levels now. Safe pick in a toppish market ??