Breakout of the long term trend line and the double bottom breakout+retest is completed.
Latest candle is forming a bullish Marubozu above the critical gann levels.
SL below 140 and the targets are the gann levels marked as blue horizontal lines.
Banswara Syntex CMP - 146.55
Buy At or Above 146 ONLY / Strict Stop Loss 136
Target 1 - 170
Target 2 - 185
Disclaimer: This is my view and for educational purpose only. Trade according to your risk and am not responsible for your loss.
Follow up chart,
Stock gave nice breakout, made a high of 180, now after profit booking / re test facing resistance again at 160, above than can make 180 again.
Company has strong fundamentals, shown good strength at above 160 today. book value is around 233, trading at undrvalued levels,
Can reach towards book value and trade 1.5 of bvps in coming years.
Has good business and good client. capex done in new plant in daman
Please look into the chart for a detailed understanding.
Consider these for short-term & swing trades with 2% profit.
For BTST trades consider booking
target for 1% - 2%
Please consider these ideas for educational purpose
Comment below if you are looking for any answers.
Banswara syntex forming a triangle pattern
Swing traders can buy at current levels and can keep adding on dips
Add on dips till 155
Sl 148
Small hurdle at 173 if 173 taken out
Hold for tgt of 190 215
Ask your financial advisor before buying
Only for educational purposes
This stock looks like re-claiming its high on weekly TF. Steady gains on daily basis continued with conviction suggest its move! There is a small hurdle of 150 & then it may see crossing its high 158 soon.
This is not a buy suggestion, its only for education purpose!
NSE:BANSWRAS
One Can Enter Now ! Or Wait for Retest of the Trendline (BO) Or wait For better R:R ratio
Note :
1.One Can Go long with a Strict SL below the Trendline or Swing Low of Daily Candle.
2. Close, should be good and Clean.
3. R:R ratio should be 1 :2 minimum
4. Plan as per your RISK appetite
Disclaimer : You are responsible for your Profits and loss,...
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