aniketkulkarni500

Positional Long Trade on Heritage Foods

Long
NSE:HERITGFOOD   HERITAGE FOODS LTD

Price and Chart Analysis -
1) Stock gave a BREAKOUT above MULTIPLE RESISTANCE ZONES 2 weeks ago.
2) Now trading and retesting near breakout level.
3) Daily Candle today was a Gravestone Doji after a downtrend, indicating possible bullish reversal hereon.
4) Zooming out, looks like a possible INVERTED HEAD & SHOULDER BREAKOUT and PULLBACK, with VOLUME CHARACTERISTICS ticking all the boxes.

Volume Analysis-
1) Breakout was supported by VERY HEAVY VOLUME .
2) Pullback towards Breakout level has been accompanied by VERY LOW or BELOW AVERAGE VOLUME ( Please see Daily Chart for the Same)