BOMBAY DYEING is breakout after consolidation period in daily candle and weekly candle now ready for upside move with confirmation form 200EMA and RSI.
BOMBAY DYEING BREAKOUT
CMP - 125 (07-FEB-2022)
TRADE OR INVEST wisely.
WE CAN JUST PREDICT.
Disclaimer: I am not a SEBI registered advisor , so before entering on my view plz ask your SEBI Registered Advisor . Profit is your and loss is your.
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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...
The stock is testing it's 2 year old trendline and has made a double bottom pattern. High volmes have also built up. Buy above 108 level for targets 112.5 and 117.5 positionally.
Learn & Earn,
Dr. Tanya Kumar
SL Compulsory
Duration 1 weeks
Previous swing low at the same point has the volume burst and the same may happen in future to spike of 5 to 10 % in price.
Found a symmetrical triangle pattern breakout in this scrip and as time value is spent after breakout, this stock might have a further upside. Investors might enter with a tight stop - loss below halt candle's low(daily timeframe halt candle).
