Prices of aluminium soaring high with lot of scope still left over
EV theme play where usage of aluminium increases by a larger extent
Nalco being one of the largest producer and is on the verge of breakout
Price action is helping us understand that every stock forms certain patterns and it is our responsibility to understand and act accordingly in short term
Long consolidation might be extended for few more weeks before the breakout
The expected target is 500 with a stop loss of 290
A double bottom pattern is a technical analysis charting pattern that describes a change in trend and a momentum reversal from prior leading price action. The double bottom looks like the letter "W". The twice-touched low is considered a support level.
It solely depends on the individual on the interpretation of double bottom. Few consider and enter the trade...
Respecting the breakout level after the breakout
Breakout after 13 years
Fundamentally a strong stock with future potential prospects
Buy: above 1870
Stop Loss: 1500/1600 based on risk appetite
Time Frame: 1-1.5 year
How does one take position based on the trendline support. Here consider the previous price action of the stock price and its behavior. Apply stop loss not for the price point selection for the company slection.
UBL is forming two patterns at a time: Multiple Top and FLag & Pole patterns.
These patterns are forming after a consolidation of 3 years coupled with strong RSI above 60.
However, one has to wait until the stock price breaks the resistance level.
Praj industries is one of the biggest beneficiaries as far ethanol blending and bio fuel are concerned.
India being the biggest importer of crude, government is aggressively promoting ethanol blending program.
Technically, after the breakout from the level of 168, the price has retested the level which is a strong sign for further rally.
One can go long as per the given target and stoploss levels.
Fundamentally, increasing disposable income, inclination towards ready to eat food, high working age population, females getting into workforce are a few reasons in the...