Multiple time tested Resistance.
Closing above this Resistance will be a fresh new ATH move.
Results are on Jan 30, so can be a quick gain or quick loss trade.
Date : 12-03-2024
Buy APARIND from the lower level of the Channel
Target of Buy Above 6381-6752-7091-7430-7770-8110-8789
SL 5312
Strategy : Running in a narrow Range, Expected to go down hit the lower channel and take reversal
Duration few weeks
Please consult your financial advisor before investing
All research for educational purposes only.
📊 DETAILS
Sector: Electric Equipment
Mkt Cap: 25,373 cr
Apar, founded by Mr. Dharmsinh D. Desai in 1958, is a market leader in India with a global presence. Contributing to India’s process of electrification it started from manufacturing power transmission cables to having three broad business segments, which are Conductors, Transformer and specialty oils...
Darvas Box Range Breakout
RSI above 70 and rising
Trading above EMA50
Volume increasing
Higher High, Higher Low formation
Disc: for study, not a recommendation
took support at 100 ema and formed morning star pattern, there is also lower trend support of parallel channel, now the stock is ready for upside with strong momentum
APARINDS - Breakout in daily timeframe with volumes. The company has been performing very well financially, and technically and overall is at a good spot for an entry.
I found Apar industries at 950 levels and found attractive at 1123 levels.
Earlier it rallies from 1123 to 2600.
On 2600 DZ I have shared study on my account before few months you can read it.
CMP - 4000+ NOW (Almost 4x)
Updated fair value - 7174 now.
Analysis Criteria Used:
1. Please find the Chart Analysis done for the 2nd April, 2023 and the upcoming week.
2. The analysis for the Swing Trade ideas, has been done based on Trend analysis and Chart Patterns with Volume Buildups
Focus On:
1. Always keeping your Risk Management in play
2. Using a Stop Loss; because it is your Best Friend
3. Always Plan your...
