19-10-2023
POSITIONAL TRADE
SUTLEJ TEXTILES
CMP 60
Buy 50% & Rest add on dips till 55
SL CLB 50
Targets 70-74-78
EXPOSURE: MAX 3 TO 5% OF YOUR TOTAL TRADING PORTFOLIO
Dont miss to BOOST / LIKE the idea
for more info - Plz visit my profile
Regards,
Naresh G
SEBI Reg. RA
NSE:SUTLEJTEX
cmp 71
ready for a big move
The objective of this analysis is knowledge sharing and education. There isn't any buy or sell advise in this article. Every stock is held for a short to medium amount of time and is positional.
It is expected of each person to carry out independent research and evaluation to ascertain whether my perspective is...
price slowly making higher high's and higher low's.
At the lower end of channel, looks good candidate for a fundamental study and if any triggers found we can hold it from here at a comfortable valuation.
Price seems to reversing and volumes seems to be picking up.
Looks interesting can take up for further analysis.
Just filtering ideas and making notes.
A "Symmetrical Continuation Triangle (Bullish)" chart pattern formed on Sutlej Textiles and Industries Ltd ( NSE:SUTLEJTEX ). This bullish signal indicates that the stock price may rise from the close of 59.77 to the range of 69.00 - 72.00.
The pattern formed over 36 days which is roughly the period of time in which the target price range may be achieved,...
Buy range 55-61
Huge rounding bottom + Triangle consolidation.
Respecting 200 MA on weekly and just below 200 MA on daily.
On Breakout, Targets can be 69-75-91-93-105
-Promoter holding more than 60%
-low P/E (below industry average)
-Low P/B value.
SL - weekly closing below 50.
*Trail your profits.
This is just a view, trade on your own risk.
Stock should cross Resistance of 89 Rs.
Educational Purpose
Not a Recommendation
---How do you find my technical analysis ?--- please share your views
~G
on daily timeframe the stock has formed a bullish engulfing candlestick chart pattern which indicates a upside move in the counter and hence based on the variouis chart patterns including MA / SMA /EMA a huge upside can be shown with great volumes
the trading strategy is a swing trade...
Buy @ 86-87
Sl - 71.5
TGT1 - 90
TGT2 - 96
TGT 3 - 101
Sutluj textile made a cup and handle pattern on weekly charts wait for the confirmation on the closing above 82.
targets would be 100-120 SL below 69
This for the educational purpose only..
check out my previous study on Mirza and Canara bank which gave tremendous movement.
Thank you
View - Bullish (Considering technical analysis and recent Govt policies towards textile industries)
Will wait Patiently till i get any sign of reversal
For educational purpose only
