CONFIPET trade ideas
CONDIPET AT BEST ENTRY LEVELCONFIPET
BUY : 63-64
TARGET : 75
DISCLAIMER - We are not a SEBI Registered Advisors. This channel is purely for Educational purposes only. We will not be responsible for your profit and loss.
Confidence Petroleum IndiaStock belongs to Oil marketing and distribution industry. Engaged in the business of LPG bottling / distribution . Stock price is getting contracted in the band 90 to 60 levels. % of promoter pledge is the major turn downs of this stock. High selling pressure is seen in the charts. ROE is also low . In short run its not a good bet .
Confidence Petro forming right shoulder.Confidence Petro is in the process of forming inverted head and shoulder plus there is volatility compression at the right shoulder. If sustains above 85 then it will head towards new all time high.
Expected bearish move in Confidence Petro US market today is very bearish for certain economical and geo-political reasons. Tomorrow Indian markets will copy and will move downwards. This stock which was previously in a descending triangle pattern has shown a breakout downwards with high volumes, at the ending of today's market session. Resistance level which is marked is historically tested around 4-5 times So, it can be reliable. I suspect tomorrow's opening in the broader indices would be very sharp, but don't take trades in haste. Observe the stock and wait till around 2 candles are developed in 5 min time frame. Target levels are mentioned in the image with stop loss levels too.
this 82.50 price needs be sustained for about 2 days this 82.50 price needs be sustained for about 2 days for furthe upmove
target - immediate target is 95
Wedge Pattern And Trendline BreakoutPlease look into the chart for a detailed understanding.
Consider these for short-term & swing trades with 2% profit.
For BTST trades consider booking target for 1% - 2%
For long-term trades look out for resistance drawn above closing.
Please consider these ideas for educational purpose
Confidence Petroleum India LimitedCONFIPET:- Stock has given breakout that too with good volume. keep on eye.
Hello traders,
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
will be posting more such ideas like this. Until that, like share and follow :)
check my other ideas to get to know about all the successful trades based on price action.
Thanks,
Ajay.
keep learning and keep earning.
Confidant petrochemical Confident petrochemical looking good for short term Investment
CMP -85
Buy@82-85
SL @79
Tgt-96
Confidence Petroleum Breakout1. Buy or Sell at your own risk
2. Don't risk more than 1%-2% of your capital as stop loss
3. Position Size formula:- Stop Loss Amount/(Buy Price-Initial Stop Loss Price)
4. Sell on RSI close below 45 (if you are a short-term trader) or RSI close below 30 (if you are a long-term investor (or use any other method of your liking)
5. Some other ways to sell stocks can be
a. 25% or 50% up in three weeks or less
b. Weekly tailing tops with high volume
c. Exhaustion gaps
d. Heavy daily volume without further upside
e. Largest one day price drop
After a consolidation since January 2022, NSE:CONFIPET has given a breakout today. Buy with a stop just below ₹74. (One can use the low of the previous bar/supertrend indicator/fixed percentage from the buy price as stop loss also)
Strengths: -
1. Debt to equity at 0.25 (less than 1 is good), Interest Coverage at 7.55 (greater than 3 is good), Current Ratio at 2.49 (greater than 1.5 is good)
2. Debtor days have improved from 23.7 to 17.4 days
3. Promoter holding is continuously increasing since Dec'19
Weaknesses: -
1. Company has a low return on equity of 12.6% over last 3 years
2. Promoters have pledged 30.6% of their holding
Disclaimer: I am not SEBI Registered. Do trade or invest at your own risk, I am not responsible for any losses and won't claim anything from your profits either. Take financial advice from your advisors before jumping in.
#CONFIPETStock is consolidating near resistance.. Cup and Handle Breakout.. Horizontal and Slanting trendline breakout.. SL 73.. CMP 81.. Target 95/110.
CONFIPETInverse Head & Shoulders Pattern
Buy @ cmp & in dips till 78.50 | DCBSL 73.50 | Tgt 87 / 90 / 95+
CONFIPET - Bullish Swing ReversalNSE: CONFIPET is closing with an strong bullish reversal candle supported with high volumes.
Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days.
The stock has been consolidating for the past few days and moving along the trendline which is indicating demand.
One can look for a 9% to 12% gain on deployed capital in this swing trade.
The view is to be discarded in the event of the stock breaking previous swing low.
#NSEindia #Trading #StockMarketindia #Tradingview #SwingTrade
Disclaimer:
This is for educational purposes only.
Confidence Petroleum: Forming Inverse Head & Shoulder on DTFSeems , Confidence petroleum is forming Inverse Head & Shoulder on Daily time frame. Can expect all time high after neckline breakout. Keep 68 as SL.
Confidence Petroleum All detail for chat. good entry at mark price only. and must stoploss is 60 minimum risk and good profit. risk ratio 1:1 in first target. This is not call my idea only. Please understand your risk and take full responsibility of your actions
Confipet Daily looking bullishConfipet Daily having Inv head n shoulder BO on daily chart, 200 ema support on daily chart.
Good to buy half qty at 63 for target of 73 , add half qty when retracement near 58-60 levels.
SL 56
Confidence Petro BullishParallel Channel & Inverted Head & Shoulder Neckline Breakout in Weekly Timeframe
Elliot wave , Confidance petro zigzag correction is going in confipet (5-3-5) , C correction may be complete in next 5-6 trading day after that new impulsive wave may start
and fundamental are also good .
