NSE:SENCO is a curious stock for me. The business is growing and easy to understand. With Kiara Advani as brand ambassador the brand has been able to build pan India trust. But all of us in the stock market know that charts have a life of their own. The case remains to be seen whether this solid breakout can be held.
The breakout came on the 15th of April which...
- No returns for the last 5 months
- Bounced from the previous support zone
- Tightening near 61% Fibo zone
- IB and NR7 candle
Entry can be initiated above 815 with 3-4% SL!
-resistance breakout and now retesting
-volume is decent as of now
-at 700 level there is 50 EMA + lower trend which is strong support zone
-i am expecting good momentum above 815
CMP: 746
Failed breakout last week
And now finding support near short-term key EMAs
✅ IB
✅ NR7
The setup will be valid as long as it stays above the 700 zone!
Senco Gold Limited is an India-based jewellery retailer.
Ready to break out, If sustained above 718 can enter with the sl 690 and target of 745 and 770
It is my view, to trade on your own analysis
Volatility Contraction Pattern is popularized by Mark Minervini, who is a two times US Investing Champion. Last year he won the championship with a record-beating 300+% in the year. He primarily uses VCP for his trading setups. It is a twist on the ascending triangle pattern with some variation.
It has the following characteristics:
The Stock must be in stage 2...
NSE:SENCO has given a fresh breakout and the revised stop loss here is 700. One can hold this share and I do expect this company to do well in the future. Very bullish share since listing.
Stock Name - Senco Gold Ltd
Ichimoku Cloud Setup :
1). Today's close is above the Conversion Line
2). Future Kumo is Turning Bullish
3). Chikou span is slanting upwards
All these parameters are showing bullishness at Current Market Price
and more bullishness AFTER crossing 700
#This is not Buy and Sell recommendation to any one. This is for education...
Stock listed in the month of Jul 2013. Consolidated almost for 03 months and given breakout with good volumes in the month of Sep 2023 and rallied more than 50%. Now the stock is consolidating and made a pole and flag pattern in Daily timeframe. can give a good rally of another 30-40%. RSI is also above 60 which shows momentum in the stock.
NSE:SENCO got listed recently and looks very good with a simple stop loss at 385. Other similar businesses are doing well as well in the stock market. Go long in this share.
