#AARTIIND CMP 1550 Stop 1375 Target Open Logic : Cup and handle breakout witnessed in weekly chart accompanied with good volumes. YoY quarterly np, op and sales has been increasing at a good rate over the last 3-4 quarters.
Premise: 1. Waiting for an OTE retrace 2. Possibility of a bullish divergence on the weekly timeframe Execution: 1. 1:1:4 scale in between 1149-1187 2. Stop at 1100 3. Target 1410 Result: 1. A 2.62:1 RR trade is executed
As can be seen the price is in a strong trend upward not going below the kijun. the stock can be added for long term on major dips.
History suggest , retest of previous swing high has attarcted Buyers most of the time .
AARTIIND in the bullish channel. Oversold conditions reached on a weekly graph testify for the upcoming price action prediction. Buy:1215 Stop: 1045 Take Profit: 1560 1903 (Others: Strong Buyback history last one at ~1150) Check news and update in comments.
Aarti Industries Ltd_Long_Daily_Swing_12.11.2017 Quality - Excellent Valuation - Expensive Financial Trend - Positive Delivery Percentage - Good Entry - 900 Target - 954 Stop Loss - 876.66
This is my first technical analysis. based the Zerodha Varsity checklist. zerodha.com Please comment on any mistakes. 1. Candle - Shooting star formed. 2. Support and Resistance - Price at resistance 3. Volume - Volume above 20 days MA 4. DOW Theory - price within the Trading Range 5. Indicators - RSI - above 60 MACD - MACD histogram is...