HEG Ltd, a leading manufacturer and exporter of graphite electrodes in India, sees no further delay in bringing its proposed capacity expansion on stream beyond the new deadline.
Reason for long a) weekly breakout b) support play c) trendline breakout possibility but breakout not yet happened SL compulsory
#Educational purpose only Swing trade opportunity New plant(20k tons) also going to be commissioned soon
Reason for long a) Dual head and shoulder formation. HSP inside HSP formatin b) price and volume spurt SL compulsory Duration 1 year
Context - Dropped 90% to 411 in 2020 after 40x Up to 4400 in 2018 High Vol up from Aug to May'21 met supply at 2500 Demand appeared at 1000 in Jun'22, holding there Given above, could plan - to Purchase Breakout above 1850 or, rejection indications near 650 PB 1x PE 9x ROCE 14% Div 3%
reasonable amnt of liq pending below the lows can act as start of rally by running all the $$$ stops
flag pattern break out in 15 min time frame after a good rally pull back is happening
HIG Ltd is a listed company, and the price has been in correction mode for the last two years. The share has shone the recovery from June 2022. The current price is 1285. Share can be purchased around 1260 to 1320 INR. With stop loss at 1200 INR, first target at 1383 INR, and the potential to cross 2,000 INR within one year.
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HEG is now looking attractive for Swing Trading of a bigger trend. Buy HEG above 1109 Target -1200,1240, 1300,1400,(book half of your position and again accumulate in below level. 1580,1640,1800 SL below 1040
Since it has broken its major support, where it has been consolidating, It will fall more to given level "Above idea is for study purpose only, Please consult your Financial Advisor before taking any position".
bearish bat harmonic pattern prz1 2550.55 prz2 2582 prz3 2526.75
Chart is self explanatory. Don't invest and trade blindly.
HEG is on the upper part of the wedge like pattern...keep a watch if it breaks out...only downside is that it has 3 resistance points, but only 2 support points in the wedge, so it may fall back into the wedge and slide down... not ideal right now for taking positions...let's keep our options open. Targets are marked nevertheless
The stock had shown growth only on the basis of sectorial growth as it had been consistently posting loss which makes it weak fundamentally. Also on chart negative MACD crossover along with declining volumes indicates weakness in the stock if it posted bad results again in upcoming quarter.
HEG is going to reach 3000 in very near term... so buy and hold...