Will SUNDRMBRAK have a long term breakout soon? Seems likely. A TVS Group company, and so it's considered fundamentally strong. I have bought a small qty, and keeping it in the watchlist.
Rounding Bottom, Cup & Handle Breakout & trading very close to its 2018 year high.
Above 750 levels, we can see massive breakout for Target 1200 in about a year & half
Bearish 4 point Harmonic pattern in the formation.
Targets based on previous resistance and Fibonacci levels on larger TF.
NSE:SUNDRMBRAK
Buy above 571
SL below 487
Targets: 625/628/673/724/815/846
++Educational purpose only++
BUY - SUNDARAM BRAKE LINERS
CMP - Rs. 518
Target - 1: Rs. 728
Target - 2: Rs. 836
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Timeframe - 4-9 months
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Technicals - Resistance Breakout
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This is just a view by an expert analyst, please invest at your own risk.
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NSE:SUNDARAM Levels are Mentioned in the chart... Good for swing..
Note:
1. Views are personal. Recheck and take the trade as per your RR.
2. Always remember SL is your lifeline not the big target...
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I am looking to enter after a small pull back near 418 with stop of 405 for Target of 465
It will take 1 to 2 Week to reach the target , A Good Opportunity for short term holding with limited risk
If price fails to hold the 407 then i will look for another bottom or support area to enter with small stop
Regards
Sundaram Breaks is at support zone. With Fib Support also near.
One can start accumulating this stock from current levels and on any dips till 340
Long term( 1 Year) Target 500
