TilakNagar ..Breakout.. Good to be in portfolio.TilakNagar 371 is on breakout from round bottom . On valuation it is undervalued and has potential to move to 500. With ROE and ROCE best among its top 7 peers and paying out a health dividend. FII's have raised their stake. All above factors suggest TilakNagar a good to be in portfolio.
TI trade ideas
BUY TODAY SELL TOMORROW for 5%DON’T HAVE TIME TO MANAGE YOUR TRADES?
- Take BTST trades at 3:25 pm every day
- Try to exit by taking 4-7% profit of each trade
- SL can also be maintained as closing below the low of the breakout candle
Now, why do I prefer BTST over swing trades? The primary reason is that I have observed that 90% of the stocks give most of the movement in just 1-2 days and the rest of the time they either consolidate or fall
Trendline Breakout in TI
BUY TODAY SELL TOMORROW for 5%
TILAKNAGAR INDUSTRIES - DAILY CHARTLiquidity swept in last two days, today a strong Hammer candle formation at an old support. There is probability of it going up.
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TILAKNAGAR INDUSTRIES : Bullish triangleUsually this wave structure forms in an impulsive sequence as wave 4 . It consists of 5 sub waves as wave-a , wave-b , wave-c, wave-d and a final setback wave-e . Each of these waves consists of three wave internal structure. Each of the waves should not break their extreme points. The final confirmation to enter the position comes when the price gets close above the level of wave-d. The minimum target of the pattern is just a poke above the level of wave-b and just above the level of wave-3 of the impulsive count. There is also a guideline to predict the target of this pattern which is known as triangular thrust. The triangular thrust is the measurement of the distance from the level of wave-a to the level of wave-b . This measured length should be kept at the point of completion of wave-e (conservative approach) or to the breakout level of wave-d to get the target of this pattern (aggressive approach).
Trading strategy: Buy on CMP 412, add on dips, keeping the SL of 389 look for the target of 465.
TilakNagar Industries - Cup & Handle BreakoutTilakNagar Industries has given a breakout of Cup & Handle with good volumes. This is heading to 400+ as first target. Other factors:
1. Breakout of Cup & Handle and then retested but with lesser volumes shows strongness of stock.
2. RSI is good and moving towards above 60
3. MACD is becoming positive
4. One of the best Quarter results
5. Becoming a debt free company by March'25
6. New launches in next 18 months
7. Venturing into luxury segment as well.
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TILAKNAGAR INDUSTRIES- 3 MHTS BREAKOUT WILL IT SUSTAIN ?Tilaknagar Industries Ltd. is an interesting Breakout on weekly chart to keep in radar
1. RSI in all time frames above 60
2. Price rise with huge volume
3. Three months long consolidation breakout
4. ABCD pattern under formation on weekly chart
FUNDAMENTALLY
Company has reduced debt.
Company has delivered good profit growth of 23.5% CAGR over last 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 27.2%
will this breakout Sustain ?
or
Will it fizzle out and continue its consolidation ?
Lets See How it Evolves.
Disclaimer: NOT A BUY / SELL RECOMMENDATION I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix.
TI: Breakout from Cup and Handle Pattern with High Volume Tilaknagar Industries Ltd. (TI) has exhibited a textbook breakout from a well-defined Cup and Handle pattern on the weekly chart. This pattern is often seen as a bullish continuation signal, indicating the potential for further upward movement.
Key Observations:
Cup and Handle Formation:
The stock has formed a classic Cup and Handle pattern over the past several months. The "cup" reflects a gradual rounded bottom, signaling a consolidation phase, followed by a minor "handle" retracement.
This pattern suggests that the stock has absorbed selling pressure and is now ready to continue its upward trend.
Breakout Confirmation:
The breakout above the resistance level of around ₹290, marked the completion of the pattern, with the price closing at ₹301.75, a significant 9.99% increase.
The breakout has occurred with strong momentum, as evidenced by the robust bullish candlestick.
Volume Spike:
Accompanying the breakout, there has been a notable spike in trading volume, which adds validity to the breakout. High volume during a breakout is a strong indicator that the move is supported by substantial buying interest.
Trendline Support:
The stock has respected an upward sloping trendline, which has acted as a strong support level throughout the pattern's formation. This trendline support strengthens the bullish outlook.
Conclusion:
The technical setup for Tilaknagar Industries Ltd. appears to be very bullish following the confirmed breakout from the Cup and Handle pattern. The surge in volume further corroborates the breakout, indicating a high probability of continued upward movement. NSE:TI
This setup offers a favorable risk-to-reward ratio for those looking to capitalize on a bullish trend in Tilaknagar Industries Ltd. Keep an eye on the volume and price action in the upcoming weeks to gauge the sustainability of the breakout.
Disclaimer: This analysis is for informational purposes only and should not be construed as financial advice. Always perform your own research or consult with a professional before making any trading decisions.
Tilaknagar IndustriesTI
Classical Ascending Triangle Pattern Breakout
Stock breaks the resistance at 290 levels and gave a close above 300 in daily timeframe today
Can be bought if it retraces to 285 - 295 levels in future for a better risk reward
Interesting Buying volumes can be seen from last two weeks
Tilaknagar Inds cmp 282.80 by Daily and Weekly Chart viewsTilaknagar Inds cmp 282.80 by Daily and Weekly Chart views
- Resistance Zone at 284 to ATH 291.40 Price Band
- Stock has formed Bullish Cup & Handle on both charts with neckline at Resistance Zone
- Price well above EMA 14, 21, 50, 200 indicative of good undercurrent for further uptrend
Clear breakout of resistanceTilaknagar industries is giving a clear breakout of resistance zone with higher volumes.
Also Alcohol and breweries industry is going good with stocks moving significantly higher.
As far as the stock is concerned it is a good momentum stock to invest in.
Keep Learning,
Keep Trading.
⚠️Disclaimer: The views expressed here are merely personal opinions. Nothing mentioned here should be considered as advice or recommendation.
Please consult with your financial advisors before making any investment decisions.
If you’d like more examples or have other questions, just ask—I’m here to help! 😊🚀
Tilaknagar Industries Date: 30.07.2024
Timeframe: Day chart
Remarks: Its classical Double top & Double bottom, M pattern formation.
To trade breakout see double top exit with volumes, candle range & delivery quantity at nse website.
To trade within the M pattern can take swing trade based on fibonacci levels with the help of your favorite moving average .
Double bottom is quite far away from here, therefore if price retrace till there then it should work as support rather then further breakdown.
Also check quarterly results as well, based on that you will have higher conviction of double top breakout trade & hold.
Regards,
Ankur