1. Symmetrical Triangle Breakout: Lakshmi Machine Works has broken out of a symmetrical triangle pattern, indicating a potential uptrend.
2. High Volume Confirmation: The breakout is accompanied by high volume, confirming the strength of the move.
3. RSI and ADX Strength: RSI is rising, indicating increasing buying pressure, while ADX shows strength in the...
The chart is self-explanatory.
upside potential > 30%
TREND ANALYSIS + VOLUME ANALYSIS + ADVANCE CONFIRMATIONS
Disclaimer: This is for educational purposes only. This is not buying or selling recommendations. I am not SEBI registered.
Very good double bottom seen in Lakshmi Machine works.
After break of neckline price have come back to test the support.
Very good low risk long entry with SL of 10500
Targets of 11700 and 13900 possible
Stock swing can be can taken for following reasons :
1) Stock has tested weekly structure
2) Stock has also tested daily structure
3) 4HR structure is also in bullish structure
NSE:LAXMIMACH
The prices have given the breakout from the previous high and made 52 week high on the weekly chart. The prices are trading above the moving averages which shows bullishness. The MACD is also bullish. The RSI is above 50 which shows good momentum. This view is for 6 to 12 months. The Target and SL is shown on the charts.
Disclaimer : This is my...
The stock is at the confluence of multiple supports Viz., 1.Pitchfork median 2. trend line 3. 61.8% fib.retracement 4. ichimoku cloud and 5.E89 band.........Go long and mint money
laxmimacine has given a stong brkout and closing outside of the channel..
a good momentum for upside can b seen.
the stock can b a good (postional) stock for a shortterm target of ..11700 and furthr of 13000.
*** PLEASE FOLLOW RISK MANAGEMENT ***
DON'T HAVE TIME TO MANAGE YOUR TRADES? | Trendline Breakout in LAXMIMACH
- Take BTST trades at 3:25 pm everyday
- Book profits within first 30 minutes of the market opening
- Try to exit taking 3-5% profit of each trade
- SL can be taken when 5/15 min candle close below 44EMA
- SL can also be maintained as 1% or closing below the low of breakout candle
Levels...
The stock given a HNS pattern breakout in weekly and daily time frame, and can move towards the trend line drawn on the chart. Once it break the trend line it may fly further as per fib retraccement. levels
