We can clearly see the volume contraction pattern on the Nandan Denim chart. The stock has broken its flag pattern and can give a good move from now any volume supported upmove can be seen as buying opportunity
All the key points mentioned on the chart itself
Don't take the full position at once
Maybe buy 25% on the initial signal
Add another 50% on...
Disclaimer:I am NOT SEBI registered, Just trying to learn to predict share price movement. THE CHARTS PRODUCED HERE ARE FOR MY PERSONAL REFERENCE ONLY AND THEY ARE NOT ANY BUY OR SELL RECOMMENDATIONS. Kindly consult your investment advisor and family members before investing.
Stock has given strong breakout after a long phase of consolidation. This can either by flag or symmetrical triangle irrespective of the case the stock is gonna explode CMP- 179/180
in case if its flag stock should go upto 350 with a sl of 135
in case if its symmetrical triangle it should to 250 easily with a sl of 157(breakout level)
Nandan Denim Ltd. engages in the textile manufacturing business. Its product portfolio includes denim, shirting, and yarn. The company was founded on August 9, 1994 and is headquartered in Ahmedabad, India.