Reason for long
a) Consolidation breakout
b) Weekly breakout
c) Open = low set up
d) super vwap breakout
e) monthly breakout
f) triangle breakout
SL compulsory
g) QQE support
h) channel support
Have closed above 200 dma 2146.55 with increase in volume... Good stocks are always expensive in regard to PE ratio 41.32. Negligible debt.. established brand... Stores are located in different part of our country... book value 750.42...
I believe the stock has bottomed out.........bcoz it has reached a confluence of supports in the form of 61.8% fib.level, lower parallel of white channel, S1 pivot and AVWAP...and also 200 Week MA...
Chart is self explanatory. Entry, Targets and Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
Expecting some strong upmove in Nilkamal
TGT - 3000 & 3200
𝑫𝒊𝒔𝒄𝒍𝒂𝒊𝒎𝒆𝒓:
The analysis is only for illustration purposes only. Please consult your financial advisor, agent, broker before acting on any information. We may or may not have positions in the stock and our actions may be contrary to the one mentioned here. This analysis may or may not be updated. We would...
Study:
1. Reversal from 200 EMA
2. Reversal from support zone
3. Reversal from trendline
4. Short term trendline breakout
5. MACD crossover
6. RSI divergence
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SL: Previous swing low
Target : 1:1.5 R:R
I will buy NILKAMAL because :
It has been taking support at the trend line .
It has been consolidating and give big move soon.
So will be looking at buying opportunities.
If it breaks the support look at shorting
Entry : 2120
Target : 2998/3100
Stop loss : 2160
A very small range breakout in nilkamal can be seen. horizontal levels marked are to be noticed, buy only if the price closes above those lines i.e 2680. stoploss can be kept at 2550 on closing basis. targets are marked on the screen.
Stock has recently started showing strength against BSE SMALL Cap index and may be approaching previous created resistance soon. Breakout can take prices to new highs.
