Upward momentum of 15% in VENUSPIPES expected
VENUSPIPES has seen a good breakout on daily TF after almost a consolidation of more than 30 days with 100% increase in volume on daily TF.
The company has a minimum 50% increase in sales QoQ growth for the last 3 quarters and close to 100% increase in EPS.
Good for swing traders. Can expect an upward momentum of a min of 10-15%.
Entry - INR 1925
SL - (DL) - INR 1840
TSL - According to your risk profile.
Disclaimer: Please be advised that the information provided is not intended as financial advice. It is imperative to conduct thorough research before making any investment or trading decisions.
The company has a minimum 50% increase in sales QoQ growth for the last 3 quarters and close to 100% increase in EPS.
Good for swing traders. Can expect an upward momentum of a min of 10-15%.
Entry - INR 1925
SL - (DL) - INR 1840
TSL - According to your risk profile.
Disclaimer: Please be advised that the information provided is not intended as financial advice. It is imperative to conduct thorough research before making any investment or trading decisions.
Trade active:
Added additional quantities to the trade
Rise in weekly volume confirmed with price.
Rise in weekly volume confirmed with price.
Trade closed: stop reached:
Hit 52week high and formed a bearish candle. Might just be a retest, however it hit my SL and hence exited. Will update in case reinstated.
Comment:
Trade reached 15%, however had a minor correction considering global turmoil, will look for future consolidations in this regard.