Conchin shipyard after a 100% rally entered consolidation phase afterwards. During the previous week bulls were able to close it above a recent resistance of 1120 making a strong candle. Stock becomes a buy above 1130 with a target of 1300 and stop loss below 1050
NSE:COCHINSHIP
One Can Enter Now ! Or Wait for Retest of the Trendline (BO) Or wait For better R:R ratio
Note :
1.One Can Go long with a Strict SL below the Trendline or Swing Low of Daily Candle.
2. Close, should be good and Clean.
3. R:R ratio should be 1 :2 minimum
4. Plan as per your RISK appetite
Disclaimer : You are responsible for your Profits and...
Price making a rounding bottom. Entry on close above 561. SL 520. This is my POV and not an trading advice. Please consult your financial advisor before taking any positions.
Cochinshipyard resistance breakout expecation above 498
Resistance trendline is there... 498 above sustain then hope for bulls..
Tripple bottom support area around 460 level
Charts for Educational purposes only
Please follow strict risk reward and stop loss if you follow my level
Thanks,
V Trade Point
Entry in Cochin shipyard Ltd. can be taken after closing above 358.5. Targets will be 382 and 401. Long term target (12 to 14 months) in Cochin shipyard will be 428+. Stop Loss should be maintained at closing below 280. Cochin Shipyard is a medium to long term investment idea. Negative aspect of the stock is the net profit which has been below par for last two...
