To the best of my sight, there's a clear downward trend since may this year, supported by head & shoulders.
Scrip's trading very close to MA 200 support levels.
If it crosses the support level, which seems possible, It could slide down to 485-489 levels.
However, If the coming quarter favors the company along with market's positive reaction thereto, Stock might...
Stock is inside two trendlines, it is resisting upper trendline and bouncing from lower trendline, bounced from lower trendline recently on 24th august, buy opportunity at current market price for 12% target till the stock reaches upper trendline.
graphite india getting a chance to move up as tweezer bottom with
engulfing green candle on daily chart..
but will it ??
something happening so only watching for learning
Graphite India looks good for short term above 816.
The following are the reasons which i believe is positive for this company
1) Approaching a trendline breakout
2) Rounding bottom breakout done
3) Continuously posting good profits for the past 4 quarters
4) FII stake has been increased
Graphite 729 dated 6.8.2021
1. Ascending Triangle Pattern BO @ 750
Buy @ Cmp for a tgt of 790-815 SL 700
Higher Tgt of 925 SL 670
It is just a view, pls trade at your own risk.
The stock was given on 27 July and it hit the target of 745 today. HIT the like button if you liked my analysis and do FOLLOW for regular swing trading ideas. For reference, I am attaching the idea suggested on 27th July.
Suggested graphite long @684 with first target at 741
TOUCHED OUR FIRST TARGET TODAY!!!
Reached 741 today
7% RETURNS IN JUST 4 DAYS!!!!
FOLLOW FOR MORE SUCH IDEAS
