Descending Low, with increasing CCI, ready for an impulse beyond 204.70
Graphite India brearish expecting 177 and 165 soon . Refer image for reasons , unless market moves upward moves or is news driven . Share your ideas and correct me if I am wrong
#GRAPHITE GRAPHITE INDIA LTD. CMP: 188 Target 1: 245 Target 2: 320 SL: 175 Take it before takes off
Graphite India Good break out with Volume today. Points 19th August trend line closure above. with green candle. Next 3 days retraced to trend line. Today (25th Aug) took support at trend line and Zoom. Also crossed 100 date price @ 202 target around 220 An one more. Volume fell last 2 days along with price indication no sellers.
Graphite Daily/hourly short 209-221 pro: 1. 2 leg out in location time frame 2. Origin of Weekly supply zone con: 1. intermediate 1 hr zone has few dosi candles of left. Bulls and bears fought nicely from origin and then dropped. 2.15 min not at all good structure candles. confirmation entry only
Graphite India which had stellar upmove in 2017-18 giveup most of its gain in 2019-20 and dropped all the way from 1200 to 103. After dropping to level of 103 stock moved up to 255 and came back to level of 160. This level of 160 is near 62% retracement of previous rally and stock has also formed double bottom around the levels. On friday price tried to move above...
Its a good dividend paying candidate trading at 1200+ levels Las time if also reverse from 170 to 1200 expect good upside in Medium to Long term Buy between 170-180 SL 150 TARGET 300+
Clear Downtrend continues average your investments once it breaks the parallel channel line it will goes below 100 levels
SL compulsory Fundamentals also looks good price near book value still needs sl and it is compulsory to protect our capital, if it goes beyond 7% in long term investment
Earlier in 2017, it is one of the fundamental strong company; but now ???? buy zone: 264 and SL is previous swing low closing. buy zone 2: 116: sl: 5% compulsory.
Free fall of Graphite India since weekly bearish engulfing candle. Next support would be 725 as per fibo level.