📈 Asahi India Glass Limited Update 🚀
🎯 Target: Rs. 685
📌 Stock Analysis:
Asahi India Glass Limited (AIS) is showing strong potential for a target price of Rs. 685. The stock has been consistently finding support in the range of 605-610, indicating a solid foundation for potential gains.
📈 Technical Outlook:
With the stock holding steady in the support zone,...
Asahi India observe great Bullish engulfing pattern on daily time frame that too with exceptional volumes.
Now the stock is consolidating for few days, giving the good opportunity to enter at this price.
Target 700+
I've noticed that the stock has broken out of a bullish pennant pattern in both the Monthly and Weekly time frames. In my opinion, this seems like a great opportunity to consider buying. I believe that once it breaks out above 692, it has the potential to generate substantial returns in the months ahead.
I'm still in the learning phase, so I'm very open to...
The stock was going through almost six months of accumulation. Then it broke above the accumulation zone and moving into the markup Phase. The Relative strength is also positive. Moneyflow and Absolute strength is also positive. The stock is likely to move move up and test the 690 levels. It may face some supply around 620 levels.
Stock is giving bullish signal on daily time frame. Buy on dips for good R;R
Monthly- bullish candle
Weekly- MACD PCO
Daily- Price is above 50 EMA and Challenged upper bollinger band with high volume candle.
RSI is above 60 and ADX is at 15.
EMAS pco
Lower volume with consolidation pricing action. Accumulation till 440-45 for immediate target of 520-25.
On daily chart there is a RSI divergence clearly showing a positive consolidation aiming for a breakout in Apr'23.
On weekly chart, likely to take support around 50 DMA.
As per my analysis, buy best buy level of NSE:ASAHIINDIA is 514 with stop loss of 497 (-16 points risk). My expected upside target will be 552 (+38 points gain). This could be low risk high reward idea.
Note: This is my personal analysis, only for learning. Thanks.
ASAHINDIA Glass
1. A round bottom pattern breakout on Weekly time frame
2. Comfortable breakout of supply zone & retested
3. Stock started forming newer highs and one can try for near term target 625.
4. With SL 415
Disclaimer: Due Diligence.
📊 Script: ASAHIINDIA (ASAHI INDIA GLASS LIMITED)
📊 Nifty50 Stock: NO
📊 Sectoral Index: NIFTY AUTO / NIFY 500 / NIFTY SMALLCAP
📊 Sector: Automobile and Auto Components
📊 Industry: Auto Components
Key highlights: 💡⚡
📈 Script is trading at upper band of Bollinger Bands (BB) and giving breakout of it.
📈 MACD is giving crossover.
📈 Crossover in Double Moving...
