1) ridiculous volumes 2) Round bottomish breakout 3) Avg zone at 485, small SL 4) retest imp for safe traders
The stock has broken out and retested, therefore may undergo a reversal rally. Trade is supported by Supports Nearby. Risk Reward Ratio - 2:1 SL is placed below the support zone & the lower trendline. The target is placed near resistance.
Sumitomo Chemical India (SCIL) manufactures, imports and markets products for Crop Protection, Grain Fumigation, Rodent Control, Bio Pesticides, Environmental Health, Professional Pest control and Feed Additives for use in India. SCIL has also marked its presence in Africa and several other geographies of the world. The product range comprises of conventional...
NSE:SUMICHEM The video is self-explanatory. Add this stock to your watchlist. Aim for 5-8% if it breaks the trend line as it can be easily achievable in 1-3 days. My belief is to choose high winning probability trade with a risk-reward ratio going from 1:1 to 1:2. The reason for booking profit of only 4-8% is because the market direction is not sure at this...
Good Volume coming in this stock Bounced back from 255 EMA now above 200 EMA taking suport at it BUY near 360 -370 SL 355 TGT 394 - 428 - 456
Sumitomo is taking 200 DEMA support. Also bullish engulfing seen on DTF. Good for long.
Sumitomo chemical is very good company of Agrochemical industries and now it's trading in range with trendline resistance when it's break trendline resistance and close above 421 in 30min chart frame we can go for long as a swing trade for the target of 434 and 458. Entry: 30min candle close above 421 SL: 391 TGT: 434/458 This is just for knowledge purpose only...
if breakdown below 400 confirmed , will head towards 370
Can enter with 25% size and keep adding till 450 , need to cross 450 for breakout with good volumes .. Keep 385-380 range as Daily Closing basis ..
Sumitomo has been moving in a channel pattern and on verge of a breakout from upper channel - volumes have been decent CMP -350 Target 1 - 353 Target 2 - 383 ideally it is advisable to take such trades when a stock is BEGINNING to move up the channel after taking support at lower channel. 276 would have been the ideal level..but even now it is fine. Watch for...
Stock has broken out from the upward channel and crossed all time high giving 2 simultaneous breakouts with great volumes. One should wait for this share to settle above the broken resistance level of 328.5 to initiate long if price sustains.