Be Cautious Head and Shoulders pattern (trend reversal) at #Astral weekly chart.
The head and shoulders pattern is believed to be one of the most reliable trend reversal patterns. It is one of several top patterns that signal, with varying degrees of accuracy, that an upward trend is nearing its end.
Stock seems to be changing trend(Head and Shoulders pattern)...
Astral Long (25 Apr)
RSI- 65
Crossed crucial zone in weak market
Buy at CMP- 2198 or at 2160
SL- 2085
Target- 2360, 2500
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My Findings :-
1. Breakout from Resistance Zone in and this zone is important because it was also acting as a support earlier.
2. Higher High and Higher Low Formation.
3. Close Above Feb, March 2022 High.
Bias- Long
Target- 2220, 2391 and 2489
SL- 1975
RR- 1: 2.5
All Important Supports and Resistances are drawn in chart. All levels are on closing...
ASTRAL LTD
Good trendline support and forming W pattern.
Good be a good bet to enter above 1950 levels for target of 2030 to 2100++
Also check fib levels
Refer Chart for levels
Note:
Above levels for education purposes only.
Do you own analysis before taking your trade.
The stock is making a w-pattern and looks good above 1950 level for targets 2038 and 2102 positionally. Buy positionally only on closing basis else intraday also good above 1950.
Learn & Earn,
Dr. Tanya Kumar
Astral has taken support at 38.2% Fib retracement level since 2020 rally and made double bottom and W pattern on daily charts. It can go till 2060 if breaks 1950.
I am looking this as Triangle and Look for one sharp move down to complete the Correction Sequence
One Can Look for Covering their shorts or Look for New Trade Opportunity
Good luck
Astral Ltd - 25.02.2022
The stock is trading @ 1910 levels
There is a HAMMER in Daily & Weekly Charts
The prices are below EMA
Resistance @ 1930 levels
Let the prices go above 1999
watch out for the price actions
Hello Everyone,
Astral Ltd formed a bullish ABCD Pattern.
We can go long with Stop loss of 1764 on daily closing basis.
Targets will be as below:
1st Target: 2030
2nd Target: 2150
3rd Target: 2235
Please like and comment if you like the idea.
Happy Trading!
Astral has come back to its long term support and should rebound from here. Like a lot of stocks, I feel the bottom has been made here as well. One can accumulate it at the current levels of Rs.1940 for long term investing.
NSE
