Ami has given a Breakout on a Daily basis
on a weekly tf is can form cup and handle pattern. if it gives breakout for that pattern then we can see more upside potential.
on a monthly tf we can see the stock is under the ipo launch high and also didn't gave a breakout from the mother candle formed on the monthly tf.
Ami Organics -
Price is consolidating from 4 months.
Respecting 1075.
Long SL at 1050 - 1040.
Can accumulate till 1075 for a initial target of 1240 and more.
-ves:
Chemical sector is not a favorable sector now. So, this trade is a positional with a view of at least 6 months - 1 year.
Reasons to trade:
1. All other sectors rallied so much, profit booking...
second highest ever volume.
converging moving averages.
pocket pivot volumes.
Negatives:
Trading below all MA.
Not from trending sector. i.e sector headwinds.
No relative strength to index.
Ami Organics Limited is one of the leading research and development-driven manufacturers of specialty chemicals. The company manufactures different types of Advanced Pharmaceutical Intermediates and Active Pharmaceutical Ingredients (API) for New Chemical Entities, and materials for agrochemicals and fine chemicals.
With a legacy of 14 years, the Company has...
Expect potential movements in the Amiorg chart in the upcoming weeks, as it has tested breakout levels twice with lower trading volumes and has been holding above these levels for three weeks. Once it closes above 1360, it may experience a swift upward movement.
📈 Exciting Bullish Pattern Alert! 🐂
📊 Pattern: Symmetric Triangle
📌 Symbol/Asset: AMIORG
🔍 Description: Stock is in a Symmetric Pattern formation. and prices are going up on a Rising Channel
👉 Disclosure: We are not SEBI registered analysts, this is not a buy or sell recommendation. Technical patterns are just one piece of the puzzle. Consider conducting...
mothly rsi above 55
ROCE-20.4 %
ROE-14.9 %
Debt to equity-0.01
Sales growth-16.7 %
Profit growth-16.5 %
Be Simple Buy Simple.
if you like my idea pls follow share and boost it.
Ami organics has formed a cup and handle pattern and is currently trading near its neckline.
Breakout from this pattern can bring good upside in this stock.
Minimum target can be 1420 above which stock can reach levels of 1700.
Trade is risky since stock is near ATH.
IDEA IS SHARED ONLY FOR EDUCATIONAL PURPOSES
