Technical Overview:
1. Inverted Head and Shoulder Breakout:
The weekly chart for GREENPANEL indicates a notable technical development — the breakout and retest of an Inverted Head and Shoulder pattern. This is a bullish reversal pattern that suggests a potential shift from a downtrend to an uptrend.
2. Horizontal Support on Daily Chart:
The daily chart...
Stock name = Greenpanel Industries Limited.
Weekly chart setup
Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined.
Disclaimer: This is for demonstration and educational purpose only. this is not buying and selling recommendations. I am...
Green panel is the low cost furniture manufacturing stock.
It is very good fundamental and revenue and profit growth And it is consolidating since 2.5 years so now we are getting it on low valuation.
It is also forming proper high and low it is as indicator of strong buyers.
I am buying this whenever it will give breakout from major point that I have mentioned...
Stock price is technically reversed and now making higher highs and higher lows. 310-340 is a strong support zone, daily close above 392 could lead stock price towards 426, 500 and 600. Company is expecting MDF columns to improve in coming quarters and looks like high inventory costs are behind now. Good stock to buy and hold.
NSE:GREENPANEL shared with potential levels including SL.
Hit T1 consolidated then now T2, Enjoy your profits....
Show some love to share more charts like this.
This script as disclosed in the chart drawing, is having a value area and now if it is held can have a target as shown.
Worth watching for study purpose.
