Previous trend: Bearish (114 to 30) Present trend: Bullish (price has broke Downward trendline at 58) Support: 77 and 58 Resistance: 130 and 157 Pattern: Rounding Bottom breakout above 30 and retesting 30 Volume: highest volume of 6.92 mn on the beginning of May 2021. Last highest monthly volume was in the month Feb 2017 (8.9 mn) Price invalidation...
Good Triangle Breakout on weekly timeframe, good time to invest
Nitin spinners gave closing at all time high resistance wait for it to break this level
GOOD FUNDAMENTALS CLOSING ABOVE 114 LEVELS GOOD UPWARD MOMENTUM
Make an eye of Nitin Spinners - on verge of a breakout.....................................
Nitin Spinner Ltd weekly chart. The stock gave highest close after Feb 2018 and 8 times the avg volumes were registered last week, which was highest after 2015. As textile stocks are talk of the town and many stocks like Ambica, Welspun etc have given BOs, Nitin Spinners which is among the largest manufacture of cotton yarn in India must be on radar.
Break out of previous 52 weeks high. strong momentum with good volume. It can be a good trade for next few weeks on positional basis with the SL of 50 DMA
strong upside view on investment purpose final target 150
01) Bullish Crab Pattern (Harmonic Pattern) 02) Bullish Engulfing Candle Pattern (13-03-2020) 03) RSI showing Oversold 04) RSI showing bullish divergence on Daily chart 05) Stock bounced from Demand zone / Long term support 06) Stock bounced from channel bottom ------------------------------------------------------------- 07) Entry - CMP - 33 08) 1st Target -...
ACCUMULATE AT 27-40 (SL 3) TARGET 227-272++ (ALL TARGETS POSITIONAL) FOR INVESTMENT
Volume is building up stock is ready to spin need to break LOC of white line swing trader's can keep an eye if it breaks PDL intraday player's can enter for 2-3% gain. Level's mentioned in chart.
Nitin Spinner : Minor break out after making higher low structure. Major break out above 122.
Broken out on the upside, can test 90. I am novice still learning, views welcome