DHANUKA - Rounding bottom + Bull Flag/Pennant - Swing
This analysis is done purely on basis of price action and chart patterns.
The analysis is done on Daily TF hence it can take couple of days to couple of weeks to reach the target.
Logic, Entry range, SL and Target is shown in image itself.
Reasons for stock selection & going long in this stock - Debt free company, Good performance, posted highest revenue/profit in Sept Quarter and Q3 is also expected to be good.
(Buy on rumors & sell on news strategy)
This analysis is for study purpose. Traders must do their own study before entering into any trade. Traders should trade with their own risk capacity and money management.
Feel Free to comment for any query or suggestion regarding this stock or Price Action Analysis
Check below another idea of BALMLAWRIE for another example of Rounding Bottom Pattern
The analysis is done on Daily TF hence it can take couple of days to couple of weeks to reach the target.
Logic, Entry range, SL and Target is shown in image itself.
Reasons for stock selection & going long in this stock - Debt free company, Good performance, posted highest revenue/profit in Sept Quarter and Q3 is also expected to be good.
(Buy on rumors & sell on news strategy)
This analysis is for study purpose. Traders must do their own study before entering into any trade. Traders should trade with their own risk capacity and money management.
Feel Free to comment for any query or suggestion regarding this stock or Price Action Analysis
Check below another idea of BALMLAWRIE for another example of Rounding Bottom Pattern
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