IPO base formed and clear signs of accumulation completion .
2nd breakout retest done .yesterday narrow range in falling small cap sign of supply dry up....good sign
Good Breakout of Pithfork
Long only above 540
STRICT SL 510
If works out 600 can be initial targets.
Low Volume Stock. No clue about fundamentals.
Disclaimer:-Please consult your Financial Advisor before investing. This view is for Study Purpose.
Chart -> Tega Daily
Tega has given an ascending triangle with a volume pop-up.
CMP: 525
Target: 571, 603
SL: 476
Disclaimer: This is for educational purposes only, not any recommendations to buy or sell. As I am not SEBI registered, please consult your financial advisor before taking any action.
Stock Name - Tega Industries Ltd
Ichimoku Cloud Setup :
1). Today's close is above the Conversion Line
2). Future Kumo is Turning Bullish
3). Chikou span is slanting upwards
All these parameters are showing bullishness at Current Market Price
and more bullishness AFTER crossing 528
#This is not Buy and Sell recommendation to any one. This is for education...
Tega industries had listed at around 761/- ( 68% premium to its IPO price of ₹453 per share.)
Its now at 447 (almost 1% less than IPO price).
Chart shows Morning star pattern with a substantial high volume as indicated in the chart.
Looks set to go up in near term.
Trade Carefully !!
When price continue its correction and made a panic bottom and reversed from there and made the 1st base and break the upper boundary thats the Initial sign of trend reversal .
This stock has very good fundamentals it is the second largest producer of polymers. It's forming an ascending triangle and may give a break out this week.
IPO retailor' selling getting absorb by long term investors
bid/ask getting tig-tag
crating a base after 3 day fall
some buying happening in above 1000 quantity at ceratin prices indicates new big wealth investor creating position in it
