The stock fell into distribution and consolidation after the trend reversal from 54 points. It has broken out of the consolidation and is now a good buy.
We can re-target 54, taking a 50% quantity profit there, and then wait for a breakout when it closes above 55.
Disclaimer: I personally hold BANG OVERSEAS LTD.
For education purposes only.
Not a SEBI registered...
A breakout above orange line will lead to a new all time high a breakout from the wedge on lower side will lead to correction.
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As can be seen due to favorable exchange rate for exporters this issue has risen significantly and is trading above all indicators except tenkan, which means the stock is taking a breather also, the cloud B line is flat which is concerning and can attract towards it. look for dips and reversal candle formation on weekly basis for buy in the scrip.
Bang Overseas Ltd. engages in the manufacture and export of men's wear. It provides men's and casual wear products including trousers, shirts, ties, belts, socks, jeans and t-shirts through Thomas Scott brand. The company was founded in June 1992 and is headquartered in Mumbai, India.
NSE
