NSE: REDINGTON is closing with a bullish swing reversal candle supported with volumes.
Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days.
The stock has been moving along the horizontal support for the past few days which is indicating demand.
One can look for a 8% to 12% gain on...
Long can be initiated above 188 level with today's low as SL. Prior upmove with huge volume showing some institutional buying here. Now it is consolidating hence good upside can be expected from this level
NSE:REDINGTON
Script - REDINGTON
CMP - 185
Target - 200
TF - DAILY
if any doubt please ask.
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For educational purpose only.
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Do your own analysis.
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Redington is presume will break its 52w high of 179.20. The recent upmove retraced to 0.5 level of fibonacci. And it will break now the recent swing high, Can enter from this level.
Redington- Can see it formed the Bat pattern and it hit the target and it may fall as per the pattern and target marked in Red.
Disc- Only for learning purpose not a trading Recommendation.
P&H Pattern: Monthly Basis
Strong Resistance at 153/157 Taken Out.
Strong Vol. Consolidation/Further BuiltUp
*With Upside, Trail SL*
*Book Profit as per Risk Appetite*
*Snapshot*
Co. major player in Distribution/Supply Chain Solutions with 235+ International brands in IT/Mobility spaces serving 37 emerging markets.
39,500+ active channel partners, 70+ sales...
Redington is consolidating in a range from 140 to 178 from past 8 months.
It is kind of flagpole pattern. Seems very bullish if it sustains above 180. A weekly closing above 175 can be a sign of breakout as well. RSI is becoming stronger.
