Monsoon is in flow and the scrip has also taken strong bullish ride breaking 52-week crucial resistance after block deal economictimes.indiatimes.com/markets/stocks/news/dolly-khanna-buys-stake-in-rain-industries-shares-jump-4/articleshow/59473205.cms Although, corrections may happen due to profit booking by shorters and swing traders, The scrip can go long towards price target (mentioned in chart) as strong bullish trend can be noticed for now Not complete formation of Cup and handle pattern but atleast, reversing bottom can be seen as it is missing the handle currently :) Traders/investors can see to start trade post confirmation, after scrip crosses 134-136 price range with more bullish engulf or continuous white candlesticks Support or SL = Breakout (resistance 52-week high) or even lower, depending upon the risk appetite (Ignore the 123-resistance seen at top-right)
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Scrip has been consolidating between the channel trendline.. If pullback is seen again from trendline resistance i.e.price movement might be seen as a brief reversal of the upward trend. Will aim for SHORT towards targets as defined in chart If the scrip breakout and crosses 134-136 price range with strong bullish trend confirmation, good to aim for resistance new levels
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The scrip has crossed the 134-136 price range after price action accumulation for 30 days with more bullish engulf or continuous white candlesticks with more buying.. If the scrip retrace back with NIFTY taking bearish corrections, Would be good to short till TP mentioned in chart or the bullish surge should take it now till PRICE TARGET
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One can aim for TP = 190,195,200 in 2-4 days as the scrip is showing major bull surge with strength in volume increase
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Can take advantage of swing trade, if Nifty supports and bullish momentum regains as earlier in ascending channel
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The scrip touched 190 of today and still on the bullish surge (volume) in ascending channel Planning to enter again for 200+ levels if the momentum continues..
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The multibagger is turning unstoppable as it has crossed 200 and is CMP 206 Planning to enter again on dip as per charts if the swing momentum repeats aiming for target price as mentioned.. The bullish momentum remains in continuity along the trendlines due to investors clinging to the stock whilst the swing could due to shorters, profit booking e.t.c
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Crossed 230 and at 242 CMP The rally appears unstoppable..
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After unstoppable rally, The scrip seems to be near its new support level. Any further downside could take it to levels of around 250 henceforth, making it a good oppurtunity to re-invest in the company showing rigorous CAGR in past quarters and EPS also risen to good extent