Stock trading in a channel and currently almost at bottom of channel
With Immediate Resistance at 108 levels.
Safe to buy if sustains above 108/110 for short term targets of 113/118/120 levels; which is another strong resistance levels.
Can be book profit partially and hold further for 130-135 levels if stock strongly hold above 120...
The stock has been constantly making higher lows and respecting it's 3-year-old support lower trendline.
Buy above 109 level (both intraday and positional) - for positional on day closing basis for further upmove. Possible targets 113, 115, 118 and 120
Disclaimer - This idea is for educational purpose and kindly buy as per your risk management. I always...
Date - 23/04/2022
Bombay Dyeing And MFG - Bullish
It is taking support at 100 EMA for long time, now it has formed a big engulfing candle. Thus, there is probability of moving upward.
CMP - 118
TGT - 138, 160, 178
SL - 92
Question on Bombay Dyeing
Stock is trading in a rising channel post a down trend. Kind of consolidating
If bought hold with SL of 84 on CLBS
If not Avoid or buy only dips till 100 if you get.
Trending moves may come only once breaks out of channel.
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CHART -> BOMBAY DYEING &MFG WEEKLY SETUP
Looks like BOMBAY DYEING &MFG is trading under a flag and pole pattern in the weekly time frame. Any weekly close, either break out above or break down below, of the flag's trendlines should guide further path of the stock.
Disclaimer: This is for educational purpose only. This is not any recommendations. I am not SEBI...