All time high break out in this stock. in this weak market scenerio. this stock closses very strongly with increased volume
sl green candle low
target near 4200 very gud risk reward ratio.
it has gud potential upside target. follow strict sl & proper risk reward ratio. this is the only holy grail in the market.it has gud potential upside target. follow strict...
Sundaram Finance Ltd.
SUNDARMFIN NSE
Chart analysis each week
1) Lifetime chart treading in a gloomy market
2) bullish candle and decent stock value
3) stock down from this level in July 2021
4) stock broke down this level the previous week but was not sustained at level
5) stock is now sustained with value and a bullish candle.
6) With a stop loss of 2580, the...
Sundaram Finance (Monthly chart) is @200 Month Average after 13 yeas. (Except Covid time)
Strong NBFC from Chennai and good numbers.
I feel this is a technical correction in current market.
Added today.
I feel Sundaram Finance a strong NBFC from South India always gives a clue on Market. Posted is monthly chart. And the is breaking 40 Month Average once more.
We can see similar in 2008 and 2020
And we know what happened to market.
On same basis i expect Sundaram Finance to touch 1600 levels (100 month MA) where i will add more and probably re enter market.
The stock has broken down and retested the lower trendline and found resistance. Trade is supported by brokerage calls and Supports Nearby.
Risk Reward Ratio - 1:1
SL is placed above multiple resistance zone, upper Trendline. The target is placed near support zone and 200 EMA.
Importantly if you look at the lower end of the WICK of the last candle you will see that it is quite long, signifying rejection and bulls making a handsome recovery , which is a bullish sign..i would expect more upside...especially if it comes out of the flag fold with good volumes ( important)...i think i have explained the idea, but remember that this is the...
After completing an impulse wave on the monthly time frame chart sundaram finance can be expected to start a new impulse wave since it has already finished its zig zag correction. A resounding investment bet for the long term on course to be a prospective multibagger
