Munjal Showa - Bullish trade
Technical analysis-
1. Stock is making higher high and higher top formation for the first time after a continuous downfall since 2018.
2. Stock is forming a series of rounding bottom patterns supported by volume action.
3. Stock is bullish and any dip is a buying opportunity.
4. Technically all is well above bottom of last 3 rounding bottoms, which is 120.
Trade set up -
Go long at CMP and add more on declines.
Targets are - 182, 213 and 258
Sl is below 120 on closing basis
1. Stock is making higher high and higher top formation for the first time after a continuous downfall since 2018.
2. Stock is forming a series of rounding bottom patterns supported by volume action.
3. Stock is bullish and any dip is a buying opportunity.
4. Technically all is well above bottom of last 3 rounding bottoms, which is 120.
Trade set up -
Go long at CMP and add more on declines.
Targets are - 182, 213 and 258
Sl is below 120 on closing basis
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