Lets Zoom-in to our Weekly chart shared previously and see what's happening in Sequent Scientific.
As mentioned in our previous weekly view, a weekly close below 214 level may result in trend reversal (Downtrend) for this stock.
Now, what can we see on Daily chart?
1)Today's close took support around 214-215 zone.
2)Bullish RSI divergence can be seen. Where Price...
Failure of breakout with high volume, gap down after making high and 2nd gap down after earning...possibility of distribution with sell on raise and gap will act as resistance.
Buy At CMP
Stop Loss 214 (CLOSING BASIS)
HEY TRADERS,
THIS PREDICTION IS BASED ON A HARMONIC PATTERN AND THE HARMONIC PATTERN IS 100% ACCURATE AND10000% RISKY BECAUSE IT IS AGAINST THE TREND METHOD...
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COMMENTS WRITE DOWN...
1) Weekly Trendline Support Broken.
2) Entered into Stage III - Consolidation/Minor correction.
3) Taking Support at 225.
4) If we apply Dow Theory:
(i) A close below previous swing low (HL/214) may result in change of Trend. Which is Stage IV - Downtrend. OR
(ii) Stage III may continue for a while before it enters next Stage II - Uptrend.
Sequent Scientific
NSE:SEQUENT
Cmp - 232
Stop - Nil, Add more on relevant dips
Expectation -
T1 - 500
T2 - Open, Review at 500
Expected Holding Period - 12 months or earlier for T1
Technicals - ✅
Fundamentals - ✅
View:- Positional/Investment
Disclaimer:-
Ideas being shared only for educational purpose
Please do your own research or consult your financial...
Weekly Chart Analysis:
S & R trade, Slowly crawling on orange trendline. Can buy at CMP at wait for triangle breakout. SL -> weekly closing below orange trendline. This trade is tricky, manage position sizing properly.
Previous rejections area and neckline of double bottom.
Breaking 313 level can be good upside move. Resistance turned into support and pushing price upwards.
