The idea here is about Madras Fertilizers:
Madras Fertilizers Ltd. engages in the manufacture and marketing of ammonia, urea, and complex fertilizers. It also produces bio-fertilizers and markets organic fertilizers and neem pesticides.
I am short term bullish on Madras Fertilizers due to below observed technical factors.
1. Contracting or Symmetrical triangle formation on a weekly chart as per below:
2. Possible bearish Butterfly pattern under formation as per below:
3. Trading above 200 EMA & Support established on 20 EMA on a weekly chart as per below:
4. Ichimoku Cloud analysis: Senkou Span B support established on a daily chart as per below:
5. Ichimoku Cloud analysis: Kumo Break out and kumo twist strong buy for upward momentum on daily & Weekly chart.
6. RSI is at 49.47 on a Daily Chart & 55.97 on a weekly chart at the time of publishing.
7. MACD below signal line on weekly chart & way converging towards signal line on daily chart.
8. Hull Moving average on daily & monthly chart is buy & sell on Weekly chart & other moving average is a strong buy on Weekly & monthly chart.
9. ADX (Average directional index) trend strength is at 24.93 on a weekly and 25.83 on a daily chart which indicates a strong trend ( ADX between 25 - 50 is a strong trend) in the current direction.
Projected targets as per bearish butterfly patterns provided in the chart.
Stop Loss: provided in chart as per contracting or symmetrical triangle.
Disclaimer: “The above is an Educational idea only and not any kind of financial or investment advice. So please do your own DD (Due Diligence) before any kind of investment”.
Do you like my TA & ideas!!
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Do leave your valuable feedback & comments for any improvisations.
Note : use the Load new Bars forward button to know the current movement.
Cheers.
Madras Fertilizers Ltd. engages in the manufacture and marketing of ammonia, urea, and complex fertilizers. It also produces bio-fertilizers and markets organic fertilizers and neem pesticides.
I am short term bullish on Madras Fertilizers due to below observed technical factors.
1. Contracting or Symmetrical triangle formation on a weekly chart as per below:
2. Possible bearish Butterfly pattern under formation as per below:
3. Trading above 200 EMA & Support established on 20 EMA on a weekly chart as per below:
4. Ichimoku Cloud analysis: Senkou Span B support established on a daily chart as per below:
5. Ichimoku Cloud analysis: Kumo Break out and kumo twist strong buy for upward momentum on daily & Weekly chart.
6. RSI is at 49.47 on a Daily Chart & 55.97 on a weekly chart at the time of publishing.
7. MACD below signal line on weekly chart & way converging towards signal line on daily chart.
8. Hull Moving average on daily & monthly chart is buy & sell on Weekly chart & other moving average is a strong buy on Weekly & monthly chart.
9. ADX (Average directional index) trend strength is at 24.93 on a weekly and 25.83 on a daily chart which indicates a strong trend ( ADX between 25 - 50 is a strong trend) in the current direction.
Projected targets as per bearish butterfly patterns provided in the chart.
Stop Loss: provided in chart as per contracting or symmetrical triangle.
Disclaimer: “The above is an Educational idea only and not any kind of financial or investment advice. So please do your own DD (Due Diligence) before any kind of investment”.
Do you like my TA & ideas!!
Want to keep yourself updated with current market action? Then don’t forget boost & to subscribe for more analysis.
Do leave your valuable feedback & comments for any improvisations.
Note : use the Load new Bars forward button to know the current movement.
Cheers.
