A continuation diamond pattern, also known as a diamond bottom or bullish diamond, is a technical analysis chart pattern that usually occurs during an uptrend and signifies a temporary pause or consolidation before the price resumes its upward movement. It's considered a continuation pattern because it typically results in the continuation of the existing bullish...
Associated Alcohols & Breweries Ltd. is in the business of manufacturing and trading of ENA (Extra Neutral Alcohol), Indian Made Indian Liquor (IMIL), Indian Made Foreign Liquor (IMFL) & Hand Sanitizer. Associated Alcohols & Breweries CMP is 408.40. Negative aspects of the company are declining annual net profits and FIIs are decreasing stake. Positive aspects of...
It has given a good breakout with high volumes, a good entry can be taken.
DISCLIMER: Its not a call before investing take an advice from your financial adviser.
Forming upward wedge, could see a blockbuster move once it crosses the upper trendline. I am holding from 310 levels and will add more once it crosses the upper trendline.
Associated Alcohol and Breweries Ltd
BREAKOUT OF ASCENDING TRIANGLE PATTERN
&
STRONG MONTHLY , WEEKLY & DAILY RT
@281
Associated Alcohols and Breweries Ltd produces foreign brands like Vat69, Black & White, Black Dog, Captain Morgan and Smirnoff etc under franchise arrangements, brands like Bagpiper Whisky, MC Dowell No. 1 Celebration Rum, White Mischief Vodka,...
Liquor sales volumes are expected to be affected by up to 5% in this quarter due to ongoing elections, sales will be hit in April-June this year. Be aware and manage your risk.
Premise:
Testing demand order-block that has previously been tested 5-6 times and has held well.
Setup:
Target - 283
Stop - 219
Potential - 23%
R - 4.82
![ASALCBR: Associated Alco & Breweries [Swing Long]](https://s3.tradingview.com/p/pXhyv6ME_mid.png "Associated Alco & Breweries [Swing Long]")
