Atul Ltd, a prominent Indian chemical manufacturing company, is exhibiting technical patterns that suggest a potential swing trading opportunity.
Reasons are listed below :
Target - 7200 // 7550
Stoploss - weekly close below 5600
DISCLAIMER -
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
Reasons are listed below :
- Strong Support Zone: The 5750-6000 range has proven to be a robust support zone, with prices bouncing off this level, indicating buying interest and a potential reversal.
- Double Bottom Pattern on Weekly Timeframe: This pattern, characterized by two distinct troughs at similar levels, is a bullish reversal signal. It suggests that the downtrend may be over, and a new upward trend could be starting.
- Reversal from Golden Fibonacci Zone: The price reversed from the 0.618 Fibonacci retracement level, often referred to as the "golden zone." This adds weight to the potential for an upward move.
- Bullish Engulfing Candle on Weekly Timeframe: The recent weekly candle engulfed the previous 8 weekly candles, indicating a significant shift toward bullish sentiment and suggesting a potential strong rebound.
- Increase in Volumes: A noticeable spike in trading volume often confirms the strength of a price move, indicating greater participation and confidence in the direction of the trend.
Target - 7200 // 7550
Stoploss - weekly close below 5600
DISCLAIMER -
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
註釋
You can accumulate at lower levels as well註釋
formed a bullish dragonfly doji last week which adds up to our conviction註釋
bullish marubozu candle on weekly timeframe註釋
strong upmove, hold!註釋
up by 14%+, We are close to our first target交易結束：目標達成
1st target achieved : 20%+, HOLD交易結束：目標達成
2nd target achieved : 23%++註釋
made a high of 30%++註釋
made a high of 32%++註釋
we could see 9000 levels soon註釋
Consolidating, hold!
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。