Monthly channel pattern breakout was followed by 2 weekly channel pattern breakouts. Currently the price travels in 1hr timeframe expanding triangle pattern.
Stock stuck into narrow range and may give breakout in any direction soon. Looking at fundamentals and operations of company it could lead to further up run if able to break resistance and sustain it for long.
we can see a breakout in sheela foam
if hold support yhen upmove possible
cmp - 2374
resistance - 2407
support - 2310-2330
target - 2405,2440,2490,2600+++
buy- cmp-50%qty
support -50%qty
time frame - 7 to 15 days
sl - 2200
SHEELA FOAM after a few months of consolidation and strong performance seen a huge multiyear breakout pattern with enormous volumes at higher levels. One can buy sheela foam ltd. with a target of atleast 3000 in coming 3-6 months timeframe.
A perfect blend of techno funda.. Strong Fundamentals. Now Stock trying to come out of a 6-month consolidation. Positional trader can long on the stock with SL at 1900
Good evening friends 2nd stock is Sheela foam limited stock is able to sustain above 2151 level than in the days to come you can see 2275 level our horizon on this stock is for week only and we are only expressing our opinion thankyou thankyou all
Sheela Foam Ltd. engages in the manufacture and sale of polystyrene foam products. The firm's products include mattresses, furniture-cushioning material, pillows, cushions, sofa-cum-beds and comfort accessory products under the Sleepwell brand. It also offers technical products and Joyce foam. The company was founded by Sheela Gautama on June 18, 1971 and is headquartered in Noida, India.
NSE
