It has given range break out in both 1D and 4H candle with above average volume. Wait for confirmation candle on Monday and enter into trade for 5% target return. SL below 81.
NSE:SCHNEIDER Pitchfork
Long term downtrend seen.
Typical upcycle period : 75 days Range : 40 pts
Down Cycle Period : around 140 days ; Range : 50 pts
Currently at inner cyclic boundary. Suggest buy at lower boundary
Schneider Electric Infrastructure Ltd:127.50 is at the brim of a descending triangle
probably poised for a break ,based on indicator signals (weekly chart). support: 101
On the other hand, it has a Positive Divergence in daily RSI, if sustain above the level 130,
it can trade within the triangle, and make move to resistance :156
I am looking to buy on Dip till 119 and with stop of 115 this stock is currently at the area of turn around
I advise look for reversal sign like Bottoming tail or Bullish Engulfing in Half hour Candle and can step in on the investment
The stock is below the 52 Week low so its time to hop in
My conservative Target would be 157 as an investment
Regards
Stock is in downtrend but near very important Fin Support.
One can expct bounce from this area, If already invested then keep a SL on close below 119.
Try to exit on rallies, Traders can play the bounce for target of 150.
But view is not very positive.
Schneider Electric Infrastructure Ltd. engages in manufacturing, designing, building, and servicing technologically advanced products and systems for electricity distribution. It offers transformers, equipment, components, ring main units, auto-reclosures, and automation. The company was founded on March 12, 2011 and is headquartered in Gurgaon, India.
SCHNEIDER
