SWING IDEA - MAHARASHTRA SEAMLESS
Maharashtra Seamless, a leading manufacturer of seamless pipes in India, is showing technical patterns that suggest a potential swing trading opportunity.
Reasons are listed below :
Target - 965 // 1095
Stoploss - weekly close below 735
DISCLAIMER -
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
Reasons are listed below :
- Support at 800 Level: The 800 level has proven to be a strong support zone, indicating significant buying interest at this price point.
- 0.382 Fibonacci Level Support: The price has found support at the 0.382 Fibonacci retracement level, suggesting a potential reversal or continuation of the uptrend from this key level.
- 50 EMA on Weekly Timeframe: The stock is trading around the 50-week exponential moving average, which acts as a support level and indicates a long-term uptrend.
- Bullish Marubozu Candle on Daily Timeframe: The recent daily candle is a bullish marubozu, characterized by a lack of shadows, indicating strong buying pressure and potential for further upward movement.
- 200 EMA Support on Daily Timeframe: The stock is also finding support at the 200-day exponential moving average, which reinforces the overall bullish sentiment and provides additional support for the uptrend.
Target - 965 // 1095
Stoploss - weekly close below 735
DISCLAIMER -
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
Trade closed: stop reached