ALICON
WEEKLY TIMEFRAME
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Disclaimer This is my trading experience, it is not an invite or recommendation to trade.
Best Wishes
PRABHUMAYAKANNAN
ALICON CASTALLOY (1D)
CMP 861.25
Stock is consolidating in a range
Stock formed Diamond pattern
Ready for movement
Auto sector is bullish so we can see same rally in this also
#Stock : #ALICON CASTALLOY LTD
#Chart Time Frame: #Daily
#Structure : #Breakout on #Daily basis of #Cup & #Handle with Decent #Volumes
On #Daily Time Frame the Stock has given a Good #Breakout with decent #Volumes of #Cup & #Handle Pattern which is a #Bullish Pattern
So stock looks good for long as per the levels mentioned below:
#CMP - 1071.60 or BoD...
*ALICON CASTALLOY* :734. a good 5 weeks of consolidation to form a base at the support of 649,has given a close above its 5 weeks high, good volumes are seen in last 2 sessions. forming a kind of descending wedge pattern breakout on radar.@koolvicky
As per the analysis from past we can say that as the candel breaks the closing of yesterday as closing and end of candel is near it can give a upward breakout and you also can observe what happens throughout the day.
Anyone can Dm me to discuss about the same.
Stock Analysis: Alicon castalloy looks like broken the supply zone sustain on this level expected to reach the target given on the chart with zone bottom as the stoploss level. Let's see
Happy Investing!
CMP 621
Long suggested ONLY ABOVE 650.
Stop 590
Target Open
Technical logic:
1) Stock has been in a strong uptrend with stock above key MAs.
2) Stock has been consolidating from 52 week highs and during consolidation process has dropped 28% in the first swing, 22% in the second swing and 11% in the third swing indicating a VCP in progress along with volume...
