Hi Traders / Investors ,
This is a Swing / Positional Trade.
I can see a bullish momentum can happen in Greenply Industries because of :-
1) Rounding bottom pattern got breakout and came for a retest at prior resistance level now acting as a support.
2) As per Fibonacci , it is taking support at 0.382 level which is healthy retracement and strong support zone.
3)...
NSE: GREENPLY 241
-Breakout Retest And Up move
-Price And Volume Both Confirms
-Next Level To Watch 245-255-261-280-291
-Support Near 230-210
-Closing Basis
I will buy GREENPLY because :
The price has broken the resistance
It showed a good move upwards before breaking Resistance.
The price is now at support the resistance may act as SUPPORT.
Entry : 229/240
Target : 300
Stop loss : 213
Greenply Industries took solid support along its 200 Exponential Moving Average (200 EMA).
This led to a breakout of the falling wedge pattern and is indicative of a bullish reversal.
Targets indicated on the Chart.
GREENPLY INDUSTRIES has formed a Wolfe Wave in Daily TF. As soon as it gets activated then a good return can be generated by the stock.
Chart & Analysis
ADARSH DEY
LOGIC,LEVEL AND TARGET WELL MENTIONED IN THE CHART
NOTE -The above interpretation from the chart is my personal view and doesn't guarantee any success.
(Do talk to your financial advisor before making any investment decisions)
please like, share and comment if you have any suggestion regarding this analysis
Greenply Industries
NSE:GREENPLY
Cmp - 172
Stop - Nil, Add more on relevant dips
Expectation -
T1 - 300
T2 - Open, Review at 300
Expected Holding Period - 18 months or earlier for T1
Technicals - ✅
Fundamentals - ✅
View:- Positional/Investment
Disclaimer:-
Ideas being shared only for educational purpose
Please do your own research or consult your financial...
Stock has given breakout from a triangle pattern. Buy above 208 TGT 8 to 10% SL 185. For educational purpose only. Kindly contact your financial advisor before entering any trade.
1. Buy above BO 223
2. TARGET 270/300
3. SL 192
Watch for breakout and day close above breakout area.
Stock has given a good rally and now in consolidation for past few weeks.
Disclaimer: This is educational purpose only.
Please share your thoughts in the comments section below.
Greenply Industries Ltd. engages in the manufacture and trade of plywood and its allied products. It offers plywood and block board, wood floors, medium density fibre board, flush doors, and decorative veneers. The company was founded by Shiv Prakash Mittal in 1984 and is headquartered in Kolkata, India.
NSE
