Graphite has came out of range after a period of 20 days till now has sustained above the support line.
To be bought as a positional & hold for stage wise target.
1st Target 592 & stoploss at 440.
The analysis is given on the chart
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I am not a SEBI registered investment advisor and hence do not follow my analysis blindly.
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Stock market is risky and you can lose a lot of your capital.
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NSE:GRAPHITE and NSE:HEG has given stellar returns since 23rd March 2020 till date. Journey still continues as they are as hot as Steel segment gets HOT !
And further will continue after a correction (when steel gets cold) due to Electric Vehicle battery component demand.
Graphite has formed the rectangular up-flag. The chart was in a 3 weeks long consolidation. This consolidation was preceded by a rally of Rs.210. The price gave the breakout to the consolidation on 10th March 2021. I see the consolidation breakout preceded by a rally as a price pattern - Up-Flag. I estimate the price target at Rs.672. Stop Loss should be set at Rs.491.
This is follow-up on Graphite India. Can check link to related ideas.
Target 2 achieved. More than 96%. Target 3 is ON.
Chart is self explanatory. Entry, Targets and Trailing Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only.
