NSE:LIKHITHA has given a stellar 4X returns past its listing. A good correction has made a 50% retracement and then bounced back on. The Corrective channel is getting broken out and it will start rushing towards Rs800 level in 7-8months
Stock have given breakout with above avg. volume.
The candles which have formed in last few sessions are bearish
but looks weaker as there is continues decrease in volumes.
This means sellers are not that powerful at these levels now.
While using Fibonacci, applying top to bottom, I see that it have tested 0.61 level.
Which means there's high probability of...
This scrip is choosen for low risk set up and it suit for swing Trade. So traders keep on your radar to catch the momentum and enjoy the profit. Thanks to all.
This is Daily timeframe.
Make or break situaton has occured in Likhita.
But with help of volume it seems to be more on bullish side.
In coming days we will get the trend confirmation with breakout or breakdown.
This post is for information purpose only.
Likhitha Infrastructure Ltd is engaged in the business of Pipeline Laying providing comprehensive erection, testing and commissioning of Oil & Gas Pipelines, City Gas Distribution Projects and Operation and Maintenance (O & M) Services. Company’s operations include three principal business lines: (i) Cross Country Pipelines and associated facilities; (ii) City...
Bought on 18th after clean breakout. 21st and 24th was not a good close as the stock couldnt close in the upper half of the days price action. Closed half position on 25th as there was strong red candle, remaining half was closed on 28th after the breach of 25ths low. We can exit the stock before the stop loss hits, but it should with proper conviction.
Company is engaged in the business of Pipeline Laying providing comprehensive erection, testing and commissioning of Oil & Gas Pipelines, City Gas Distribution Projects and Operation and Maintenance (O & M) Services.
It has advantage as the CNG demand is increasing and so we need infrastructure to satisfy the demand.
This company will be benefited.
Good one for...
Price is trading inside a symmetrical Triangle pattern. Price is in uptrend Volume increasing with price up and decreasing with fall
Support near 340 Upside may be 470
