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Rugminik

SOTL-A Monthly VCP Breakout & Retest candidate, 30% ROI

Long
SAVITA OIL TECHNOL (NSE:SOTL)  
Rugminik Updated   
NSE:SOTL   SAVITA OIL TECHNOL
Multiple Time Frame Analysis Trend Lines Support and Resistance VCP SOTL swingtrading positiontrading priceactionanalysis trendlineanalysis equitytrading indianstocksanalysis stockstobuy
5
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mtfa trendline supportandresistance vcp sotl swingtrading positiontrading priceactionanalysis trendlineanalysis equitytrading indianstocksanalysis stockstobuy
Expecting ROI - 30%

As mentioned in multi time frame analysis charts,

1) Monthly 6 year old VCP Breakout, Retest done , consolidated for 2 months,
now ready to move out of the consolidation zone.

2) Compressing at major supply region with minimal
sellers strength

3) Expecting BO soon, SL at prev week low.
Comment:
Exited SOTL with a small SL as the 75 minutes Price action doesn't look good. 500 - Round number reaction has occured.
Comment:
Shall wait for a reversal price action before making any fresh entry.
Comment:
The stock has zoomed post picking demands at 460 region.
Comment:
The stock is holding strong amidst war and other negativity in markets, Entered at a reversal spot - 559, SL 539, Targets minimum 20%. Highly bullish in the short term.
Comment:
May punch an exit at 640. Based on yesterday's candle.
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