MUNJALSHOW
1) Time Frame - Weekly.
2) Long Term downtrend breakout happened on June, 2023 and the stock has been consolidating since june 2023 & gave a double bottom pattern breakout with strong bullish candle & good volume.
3) The next target would be its life time high in the long term (313 - 63%).
4) Recommendation - Strong Buy
Munjalshow - good Relative strength Stock. Can buy in Dips with a TGT of 250 first.
Remember: I am a Price Action Trader and use Price and Volume together with different Timeframes, including RSI, and market conditions. To get best result always wait for confirmation. Focus on Risk Management and Position sizing.
I use Trading view for my Analysis and charts...
NSE:MUNJALSHOW
cmp 170
heading towards 250-300
The objective of this analysis is knowledge sharing and education. There isn't any buy or sell advise in this article. Every stock is held for a short to medium amount of time and is positional.
It is expected of each person to carry out independent research and evaluation to ascertain whether my perspective is...
Long term consolidation, close to move up and if breakout happen then expecting to move multiple folds however it’s important to watch out immediate crucial resistance after breakout. First entry with small qty.
Technical analysis-
1. Stock is making higher high and higher top formation for the first time after a continuous downfall since 2018.
2. Stock is forming a series of rounding bottom patterns supported by volume action.
3. Stock is bullish and any dip is a buying opportunity.
4. Technically all is well above bottom of last 3 rounding bottoms, which is 120.
Trade...
NSE:MUNJALSHOW is under going consolidation and hence hold on to it if you have it in portfolio. The reversal shall occur around range of Rs115-130. Have patience with this Long term EV beneficiary.
This post is an update to previous idea on Munjal Showa.
NSE:MUNJALSHOW is ripe and ready to blast off in a very short term basis.
Minimum Target Rs300.
Very Bullish momentum to be seen in few weeks starting this one.
