ASTERDM trade ideas
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Triangle Breakout in AsterDm HealthcareIf we see the daily timeframe for Aster DM healthcare, it is clear that the stock has given a breakout after 5 months of consolidation inside the triangle pattern. Currently it has broken the upper trend line with good volumes. It is also near to the psychological level of Rs 200. If it breaks Rs 200 with good volumes and gives a candle closing above it, we might see a aggressive buying in this stock. With the current momentum, we can definitely look out for 5%-10% gain from this stock in the short term.
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Aster DM - Flag BreakoutAster DM Healthcare has broken above all its Exponential Moving Averages and has also broken above the Flag formation indicating a bullish move upwards.
Watch to enter at levels above the upper trendline of the Flag. A re-test of the upper trendline can also be seen as a buying opportunity.
22% in Aster DM | Swing Trade22% potential target in Aster DM on the verge of breakout
Aggressive trader can enter right after first 15min, to play safe wait for the candle to close and enter only at the closing at around 3:25PM.
Reasons to trade -
1. Beautiful price consolidation inside the channel
2. On the verge of breaking the trendline
3. 50 EMA support
4. Good Volume
5. Has taken a retracement from the Horizontal Demand Area
6. RSI above the MA
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The Rich Trader
Rohit Sharma
MTech IIT Guwahati