A potential swing trade in Finolex cables , a prominent figure in the cable manufacturing sector.

Reasons are listed below :
  • The stock bounced convincingly from the strong support level of 850, indicating solid buying interest at this price point.
  • A hammer candlestick on the weekly timeframe signals a potential reversal, suggesting a shift from bearish sentiment to bullish momentum.
  • The appearance of a morning star pattern on the daily chart adds further confirmation to the bullish bias, signaling a possible trend reversal from bearish to bullish.
  • The stock finds support at the 0.382 Fibonacci level, reinforcing the bullish outlook.
  • Volume Surge: Witness a notable increase in trading volumes, reflecting growing market interest and potential accumulation by investors.
  • FinCables has been consistently making higher highs on larger timeframes, indicating a trend of increasing bullish momentum and reinforcing the potential for upward movement.

Target - 1020 // 1150 // 1210
Stoploss - weekly close below 805


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.

Price up by 11.2%++ from our buying price
15% ++ achieved, we are very close on 1st target.
Trade closed: target reached:
1st target done : achieved 19% ++
price made a new higher low and then a new higher high i.e the trend is intact.
Hold for targets
Trade closed: target reached:
2nd target achieved : 33% ++
Achieved 55%++

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.