Double bottom or W pattern breakout in ASTRAMICRO, good opportunity to go long. On other side, if nifty falls down, this stock also might take some time to go up.
AstraMicro is making a flat base pattern at Hourly timeframe,
And the RSI is in Uptrend.
Which indicates positive divergence.
It can give a good upmove up to 319
SL should be at 301.
Risk: Reward is 1:2.
Mega Trend: Defence Sector
Double Bottom Breakout from Falling Wedge on Weekly Chart as described by William O Neil
- High Volume on Up Weeks
- Low Volume on Down / Handle Formation
DON'T HAVE TIME TO MANAGE YOUR TRADES?
- Take BTST trades at 3:25 pm every day
- Book profits within the first 30 minutes of the market opening
- Try to exit by taking 3-5% profit of each trade
- SL can be taken when the 5/15 min candle closes below 44EMA
- SL can also be maintained as 1% or closing below the low of the breakout candle
The levels mentioned...
Stock is in a strong long-term uptrend. Stock was consolidating from past few weeks with dry volumes. However stock has given a strong weekly BO with increased volumes. Good buy at current levels.
Disclaimer: I am not SEBI registered
After Breakout of 17 year consolidation
Tight range volume buying is visible on charts with heavy volume on right side of chart
Best buy 295-300
Target for both shortterm and long term are mention on chart
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