SASKEN

Date 28.09.2024
SASKEN
Timeframe : Weekly

Remarks :

1 Formed rounding cup pattern previously & followed by M pattern structural breakout.
2 Based on negative divergence the breakout didn't sustained & retraced back to neckline of rounding cup.
3 Currently, having support of 60 Weekly ema & 38.2% of Fibonacci.
4 Todays there's huge fire broke out at Tata Electronics plant in Hosur & temporary there could be supply chain & distribution challenge/s.
5 Amid that SASKEN is one of the top competitor of Tata Electronics & could take benefits of that for time being.
6 Keep stop-loss at 60 weekly ema on closing basis.

Regards,
Ankur