Swing trade idea for coming week
GANESHBE
Buy above 184
SL 173
Target 250
Wait for retest
Disclaimer -We are not responsible for your profit and loss. It's only for education purpose analysis
Reason for long
a) W formation
b) pull back with pattern development inside the rainbow indicator
c) super trend and rainbow is long
d) price is trending hence long with sl
d
Scrip looks ripe, if it closes above 181, it will give inverted HnS breakout which may boost the counter to move higherm counter will have a blue sky to move.
🛡️Ganesh Benzoplast Ltd
💠Stock Trading above 50 & 200 EMA
💠Stock making Big Base with higher volume
💠 Stock structure is Uptrend
💠 Breakout Level 170 Support 158
💠 RR Favorable for going long
♻️ Retweet for max reach
GANESH BENZOPLAST
Stock with 70%+ returns last year
Near it's ATH
Pattern observed : Ascending channel on weekly chart (Perfect pattern)
Seems to be a buy above 180 as it breaks the channel on weekly chart
Target : Around 230
Also :
Observed RSI Divergence on 1D chart so can go for short if fails to break the resistance
Target : 145-140
--But Adding small...
Breakout with volumes after consolidation post an impulse up move. Provides a favorable risk to reward ratio to trade
Entry - 176-178
Stop Loss - 168
Target - 19
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
Ganesh benzoplast near to ath looks good for a positional trade
Buy if comes to 155-160
Sl 146
Tgt 165 175 184 197
Ask your financial advisor before buying
Only for educational purposes
