SIYSIL trade ideas
Siyaram silk mills 1D chartPlease enter the trade once u get a proper breakout or reversal from the levels, Do not hesitate to contact me with any queries. Kindly support my views. Thanks
SIYARAM SILKS Low Risk EntrySIYSIL has been consolidating b/w Rs 100-150 to form a bottom since March 2020. It broke out of the range to cross Rs 150 in the week of 3 Aug 2020, and has shaken out weak hands on 31 Aug. Since March 2020, > 9 million shares have traded in high volumes, against a float of 15 million shares available to public. This is a significant amount of trading within 4 months, suggesting acquisition of significant shares by a large buyer.
Current price provides a minimal risk entry point. Trade fails if price falls below 138.
