Vinati organics ltd,2 Hrs TF, Potential breakout shortly (peanut pattern) and also satisfying son-father-grandfather rule in RSI
this is making flag pattern and price moving near the trend line buy above the trend line coz that r the big resistance soon it will give up move flag breakout .
The pattern suggests Pennant. Do you agree
Volume bhas dropped substantially after breakout from the triangular pattern. Volume on breakout was exceptional and at the same time it took our two previous swing highs. Price is near 20 DEMA and range is small. RSI and RS are strong. Buy with sl below 1300 on daily closing basis for target of 1700+ levels. Disc : it's not an investment advice to buy or sell
This week we will cover Vinati Organics as it had a very clear breakout on weekly levels. The chart is self explanatory and the company is definitely an investment grade company. Stop loss will be the downward sloping resistance line that the stock has broken which is currently around Rs.1360
#VINATIORGA FLAG Pattern BO Details in chart.
VINATIORGA has given a cup & handle breakout on time frame with rising volume. however it has to sustain above 1400 -1420 level for sustainable rally. if it sustains it can move past 1600 odd levels.
Wait for the RSI to make a down move and a Stoch RSI cross-over. Sell for existing levels marked in the chart. Low volume in green candle means buyers are not interested! So sellers will kick in soon.
The stock broke long term downtrend with high volumes. Currently the price is facing resistance and is into consolidation after a break out. Long position can be taken around 1250 for targets of upto 1380 to 1400. Sl can be kept at 1199 and should be taken on candle close basis. Swing long trade may take uto few weeks for target to be hit.
Vinati Organics looking good as it has given a BO from a range with good vol However, at current level, Buying is not recommended As R:R is not fav. Buy either in dip arnd 1180 or above 1240 initial SL would be 1145 or 1175 respectively Target line are marked on chart Disclaimr : This idea is for only educational purpose, please consult your financial advisor...
TGT 1400 soon. SL 1235. Long term TGT 1600. For educational purpose only. Company into specialty chemicals with strong fundamentals.
This is just for educational purpose and not a recommendation. Closing above 1240 will take it to 1320/1420. Before taking any positions please consult your financial advisor.
Vinati Org has given a breakout after a pull back. Good Volumes have come up and RSI is getting stronger. Should reach the target 1300 in the coming days.
POSSIBLE TARGETS ABOVE 1165 1) 1210 (38.2 % FIB) 2) 1250 (50 % FIB) Feel Free To Ask For Any Technical/Fundamental Query Comment Down Below Educational Purpose Only.
#VINATIORGA NSE:VINATIORGA VINATI ORGANICS LTD. CMP: 1219 Target: 1500+ SL: 1150 Time Frame: < 2 month. Invest and hold! If u like my work, kindly LIKE SHARE & FOLLOW for latest stock recommendations. :)