Carborundum Universal , a renowned conglomerate in the industrial sector, presents a compelling swing trade opportunity.
Reasons are listed below :
A bullish Marubozu candle on the weekly timeframe signals strong buying pressure and potential upward momentum.
The stock is breaking out of a consolidation phase lasting over a year, indicating a significant...
The stock after a long consolidation for 10 months is finally trying to move out the consolidation zone. The Money Flow and Relative Strength are slowly turning positive. The buying pressure also was quite high in the recent times. Looks like the stock is on the way to the next wave of up move.
On the chart this looks like a good bounce from the support area and 50 EMA. Look at the candles in the down move. As move proceeded the candle sizes reduced indicating that the momentum was reducing. last candle in the down move was a small spread bar with high volume. This candle is a clear indication the Demand was taking control. The next bar is a bullish one...
Please look into the chart for a detailed understanding.
Consider these for short-term & swing trades with 2% profit.
For BTST trades consider booking
target for 1% - 2%
For long-term trades look out for resistance drawn above closing.
Please consider these ideas for educational purpose
> Cup & Handle formation
> These kind of patterns take lots of time to form and more time to give rewards
> Like the valuations. EPS will follow.
> Will evaluate further once we reach target for momentum.
Note: InvestIn10 would ride this till Momentum exists. The Target & SL are for Swing Investors only.
NSE:CARBORUNIV made all time high previous week but couldn't sustained above the previous ath and closed below. Now expecting some small correction before make a new high. marked short term retracement/demand zones.
Disclaimer - This chart analysis is only for educational study purpose. Do proper research before trade/investment or consult with your financial...
Breakout expectation in Carborundum
Please follow strict risk reward and stop loss if you follow my levels...
Charts for Educational purposes only
Thanks,
V Trade Point
CARBORUNIV - Weekly cup formation
1. Wait for a weekly close above the yellow line.
2. This is a part of SBI small cap fund.
3. Can create generational wealth.
Stoploss = 830 post entry.
Holding period - > 4 months.
Carborandum ascending triangle. Approaching resistance after rejection in minimal time, even most share falls during this period. Hoping this time will break resistance.
carborundum universal having potential upside break out ,have a look on this stock. This in only my view on this stock
take your own decision while investing or trading.
Carboruniv looks weak from here while taking support at 800-810 levels. Breaching this, it can show a significant downtrend.
Chart Pattern - Head & Shoulders.
Disclaimer:- This is not A BUY OR SELL recommendation. please Consult with your financial advisor or with broker before taking any trade,
this post is for educational purpose only . warning :- do not jump directly or do not copy my trades
DO your analysis properly
