Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined.
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...
Reason for long
a) Consolidation breakout
b) Open = low set up
c) trendline breakout
d) weekly and monthly breakout
e) QQE long set up
g) volume and price spurt
Seamec Ltd is looking good on longer time frame. Stock is forming double bottom pattern on monthly time frame. Keep on radar. Today Company will announce its results also for Sept'23.
A bullish Flag and Pole BO has been confirmed with googd volume on the daily hart of NSE:SEAMECLTD . One can create a fresh position in the scrip near the CMP of 748 or Below with a stop loss of Rs,. 708 on daily closing basis for a target of Rs. 790/830/870
Exit the position if the stop loss is triggered on DCB.
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As you can see the support box down which will help to bounce back, we have seen many times as per data provided, So ideally It should go up when it hits the line and the volume is also good so buyers are dominating ,it should go till it hits the big resistance line above, everything is provided in the diagram above.
Reason for long
a) Triangle breakout with volume
b) big bull bar
if there is any gap down, or openining lower, buy on dips set-up on this counter.
duration : 1 week
