Formed a base and attempting to break the important resistance by forming a W pattern.
Additionally attempting to break the down trendline.
A candle close above 323 should be initiation point for a long trade.
RSI rising above 60.
Note: This is just for analysis purpose, please do your own research before punching any orders.
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NSE:CROMPTON Reason to go long :
1. Breaking out with volume .
2. Hovering near 23 % fib level .
3. Sideways for a year now , about to give break
Entry :307 -315
Sl and Tgt given on chart .
CG weekly chart..cmp 325.20 it has given a breakout of the falling channel pattern...medium term can show a move towards 415 and long term towards 500.....just an observation not a trading recommendation
Showing nice price action on Weekly and daily chart
Price gave a nice retracement from 61.8%
Going out of weekly zone and weekly resistance
daily price already above Key Moving averages - Weekly also trying to beat Moving averages.
Keep weekly Stop loss as per your risk management rules.
Happy Trading !!!
Crompton Once BO above trendline then double target leke jana iska pakka milega but let it BO.
Morning star in monthly TF at support trendline never failed so any dip also buy this
CROMPTON Form good rounding bottom structure & giving a proper Breakout Candle.
We can see a good rally in coming days. Good for swing & Long Term Investment
The Stock has been following a Steady and disciplined trend line zone on all its time zones.
Red - Monthly
Orange - Weekly
Yellow - Daily.
Also Did Formed and today broke out of a successfully formed Rising Triangle.
Suggesting to pick it up after Red trendline Breakout on daily TF.
The stock is testing it's strong support/resistance zone.
This is the same point where 200 ema and 2.5 year old trendline is placed.
On weekly chart stock has made a higher swing low as well.
Once it breaks and sustains all these levels a bull run can follow.
This is not a BUY/SELL recommendation.
This idea is for educational purpose only.
Learn & Earn,
Dr....
