With a rich legacy and a strong foothold in the industrial sector, Finolex Industries emerges as an intriguing candidate for swing traders seeking opportunities in the market.
Reasons are listed below :
Breakthrough Attempt: After multiple tests, the stock is attempting to break through the critical 240 level, signaling a potential bullish breakout.
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This chart for swing position if chart time frame daily then period 01 to 03 month. or 1H to 4H then 01 to 10 days .
All instructions are given upper on chart . as a all level order, entry, exit.
Its not a call tips advisory only for education purpose. Your position your self care.
WE observed the one flag pattern breakout, inside the flag made cup handle pattern breakout.
two types of pattern we seen in same chart and both are breakout out
📊 Script: FINPIPE
📊 Sector: Plastic products
📊 Industry: Plastic products
Key highlights: 💡⚡
📈 Script is trading at upper band of BB and giving breakout of it.
📈 MACD is giving crossover .
📈 Double Moving Averages are on urge of crossover.
📈 Right now RSI is around 60.
📈 One can go for Swing Trade.
⏱️ C.M.P 📑💰- 235
🟢 Target 🎯🏆 - 260
⚠️ Stoploss ☠️🚫 - 222
⚠️...
breakout or breakdown of contracting triangle near to our trg of 255,58 and 262 . If crosses 262 with volume then we have a target of 310 rs but some profit booking in this range expected.
Stock name - Finolex Industries Limited.
Daily chart setup
Heavy Volumes
7% to 12% Quick Move Possible
Master Score - B
Disclaimer: This is for demonstration and educational purpose only. this is not buying and selling recommendations. I am not SEBI registered. please consult your financial advisor before taking any trade.
Finpipe had recently cleared its Oct 2021 range and with close on 22 Mar 2024, has registered a strong weekly candle breaking out of a symmetrical triangle at breakout levels.
The stock can potentially give 25-40% returns in the coming few months.
The stock has a PE of 32.33 which is below the segment PE of 46
chart looks poised for a sustained breakout
Technical:
Price consolidation is over.
LOng bullish candle
Volume approx 10 million in 1 day
RSI and MACD are giving bullish signals.
TARGET -1 : 250
TARGET -2 : 280
STOP LOSS: 220
**These are my personal observations. Please trade at your own risk.**
finolex ind/pipe intial trg 257-60 once this is crossed we are heading toward 300 odd level . fibo ext trg gives us a target of 399-400 level. if corrects near to 208 level( trendline support) accumulate in large qty ( as nifty 3.2 to started or to start soon)
As per chart we are heading toward 300 level once this resistance is crossed with volume we have a fibo ext target of 399-405 level first. Remain in trade and accumulate on every dip
The stock has shown some decent strength in the recent times so its going to be easy time for it in coming years ..
Cmp 232
Buy above 260
If breaks with good volume though
Entry on retest
TGT 380+
SL below 190
Note: Its my own views on the mentioned stock .. and not any personal recommendations to buy or sell the particular stock mentioned in the description.
Please look into the chart for a detailed understanding.
Consider these for short-term & swing trades with 4% profit (In my observation, I found that most of the stocks reached 3% to 4% on weekly basis)
Please consider these ideas for educational purposes.
