Good entry opportunity in Wheels India. Price is on the trend line, so risk-reward ratio is good. Can exit with 1:2 target also. SL can be extended upto 530.
WHEELS INDIA, as observed in the weekly chart, is currently exhibiting a compelling technical pattern, suggesting the possibility of a significant breakout. The stock has been forming a symmetrical triangle pattern over the past several weeks, indicating a period of consolidation and tightening price movements. Price Targets: In the event of a confirmed breakout,...
This pattern has been recently winessed in quite a few charts. Price action reaction seems very similar.
Can be a good trade if it breaks the trendline and 850.80 level as well. It's 5 year old trendline. Also forming double bottom pattern. Simple price action analysis :)
Wheels India is looking good on chart. Keep on radar for closing above 820
CHANNEL BREAKOUT WITH VOLUMES VOLUME ACCUMULATION SINCE MARCH 2021
The analysis is done on weekly TF hence price may take few weeks to few months in order to reach the targets. Trade setup is explained in image itself. The above analysis is purely for educational purpose. Traders must do their own study & follow risk management before entering into any trade Checkout my other ideas to understand how one can earn from stock...
WHEELS -- crossed trend line with decent above average volumes Volume is Monthly High The daily trend changed to positive High on momentum Above 20-SMA on Daily, Weekly, Monthly Time Frame Also, the Monthly trend is +ve & now the Weekly trend Changed to +ve. Please do your own research before making any investment
WHEELS has formed a triangle pattern and is about give a breakout.
This scrip is expected to give breakout in the coming days. So traders keep on your radar to catch the momentum. Thanks to all 🙏🙏🙏🙏
Reason for long a) ABC correction over and ready for reversal b) Reversal evident by price and volume hike c) Support play and looks like pull back long set up in weekly time frame.
SL Compulsory Duration: 1 week to 5 weeks TL breakout with volume and for next 10% upside possible.
On reaching 703, reaches the connected candles for a swift move. On watchlist
Look for breakout. I post all the opportunities that you all can paper-trade and watch for study. soon I am launching a youtube channel that is completely based on SWING TRADING
Detailed analysis given on the chart NSE:WHEELS
Stock has given Break Out on Monthly Time Frame. Either one can enter now, add more during retest and look for mentioned targets. Or once can enter above 1068 for the mentioned targets. In both the cases, returns would be awesome. Go long!
Wheels Ind. Look at the Wonderful Chert, 🤩 this is the Power of Brackout