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Visionary_Growth_Insights
Feb 23, 2024 12:13 PM

SWING IDEA - SAPPHIRE FOODS INDIA Long

SAPPHIRE FOODS INDIA LTDNSE

Description

Sapphire Foods, a leading player in food and beverage industry, emerges as a potential swing trade candidate.

Reasons are listed below :
  • Ascending triangle pattern breakout observed, suggesting potential bullish continuation.
  • Bullish engulfing candle on the weekly timeframe, engulfing the previous 13 weekly candles, indicating a strong bullish reversal.
  • Breakout signals the end of a consolidation phase lasting over 2 years, suggesting a release of pent-up buying pressure.
  • Trading near all-time high, reflecting robust bullish momentum and investor confidence.
  • 50-period exponential moving average (EMA) on the weekly timeframe providing significant support, reinforcing bullish sentiment.


Target - 1780 // 2000
StopLoss - weekly close below 1350

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@Visionary.growth.insights

Trade active

PRICE IS on 7.1% ++ FROM OUR BUYING PRICE.
HOLD FOR TARGETS !!

Comment

price made a high of 11.5%+

Comment

stock sharply reversed from support area
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