HIMATSEIDE trade ideas
HIMATSEIDE Potential long term weekly breakoutThe stock closed at a 6 month weekly closing high with above average volumes and is now touching the resistance trend line. It would make sense to initiate a long here with a DCB stop loss of 85.5 (check daily chart to see the stop loss level). The first target is the near term resistance of 97 odd but a more sensible medium term target would be 119-120.
Himatsingka: Power of Patterns and Volume confirmation.NSE:HIMATSEIDE
(1) Volume profile: Accumulation phase is running.. between 59.05 to 66.90 Levels And P.O.C. is standing at 62.70
(2) Rectangle Pattern range: 42.90 to 70
(3) Average high volume above trading.
(4) Previous swing high was 70
(5) RSI entered into overbought zone today i.e 22/06/2020. It indicates bulls are active.
Trade Set Up:
Bullish Breakout above 70
Target : 97.05
Stop Loss : 59 (Under P.O.C.)
Risk is yours and Reward is too yours totally.
One Right Trade's Swing Trade Idea #74 : Buy on HIMATSEIDEPlease do like and share the idea in case you find it good and follow it for further updates on it for benefit of everyone. Also, please comment if you have any feedback. This idea by one right trade is only for study purpose and is not a trading call.
Himatsingka Seide - Investment View.Happy Diwali.
On Weekly Chart Break Out.
Accumulation / Support Zone.
Fundamentally Looks Good.
Can Be Accumulated In Parts.
Investment View For Educational Purpose Only.
Other Details Mentioned In Chart.
Please Consult Your Financial Advisor Before Taking Any Decision.
I am not SEBI Registered Financial Advisor.