Manali Petro LongThe stock has broken out of the wedge and is looking to move upwards. SL can be at 29.50 and Target 40/42
This is just for educational purposes. Please reach out to your financial advisor before investing
Trade ideas
Manali Petrochem - Bullish Engulfing post pullbackNote: This is for educational purpose only.
There seems to be a bullish engulfing on the resistance turned support. Moreover, the bullish engulfing has come post first pullback.
RSI is 52 which is still in neutral zone. Buy above the high of current candle on closing basis.
Stock Marching to HighsThe stock consolidating in the range of 34.4 and 39.85 for the 6 months. Now its trying to break that level with good volumes. Accumulate in the range of 38-41. Very good sign is stock is trading above important Moving Averages. First Target is 47.6 and second is 49.4.
MANALI PETROCHEMS LTDMANALI GIVEN BREAKOUT AND ALSO TRADING AT LIFE TIME HIGH SO GOOD TO PICK FOR 2-3 MONTHS STOCK MAY DOUBLE IN 2-3 MONTH USE STOP LOSS AT 30 TARGET 80-100-120
MPL breaking a monthly resistanceMPL breaking the Monthly resistance of 33.7 in a single shot due to news driven scenario.
Can complete the AB=CD harmonic pattern at 44.8 as the C retracement is 0.5
This stock can retest 33.7 for activity.. so better the enter only 25% of the position. as 42 is again a reistance for it
Pattern AB=CD
CMP 37.8
Aggressive Entry 37.8
Aggressive StopLoss 30.55
Aggressive RoR Min 0.97
Aggressive RoR Min 4.72
Reward 1 44.8
Reward 2 72
Part book levels can be 41.9/48.6/55.8/59.6
Since trading near resistance not advisable to entry full and better to enter a small part.. comfortable trading above 42 can let to adding more r near 33 if retracement comes..
