1). Demand Zone(800-765) 2). Bat Harmonic Pattern current price-866. as per analysis it will come 800 -765 levels and bounce back again. first target is 38% of retracement 900. second target 61.8% of retracement 956.
Earlier was a weekly chart. On daily chart, the stock has to cross 1018 today
Graphite may touch 810-820 in short term for making any further up move
On a short term perspective Graphite managed to close above 2/1 line yesterday. 955 will be the support and short/ intermediate term target will be 1110
25 Weeks of consolidation; 1st leg 36% 2nd leg 26% 3rd leg 21% Broken out of consolidation zone with good volumes. Look to buy at the breach of 1030 with a stop of 930. Target 1200 plus.
My take on Graphite: Graphite is expected to reach a level of 1300 by December 2018, depending on its fundamentals. However I don't advise to hold on the stock on the basis of my assumption. Further, please watch out for the level of 905 is not broken in short term.
How the stocks have performed over a period of 393 days.
If it manages to close above 895 and hold for some time, we may see even a level of 1300+ in near term.
Watch out for tomorrow's closing above 893.15 for crossing of 1/2 resistance line for steep up move in medium term.
There is a resistance ahead at 880. If it is conclusively closed, a level of 1270 can be seen in this run up.
However the stock may touch 755 in the short term with a strong chance of touching 770. Target 960 in the present run up.
We are likely to see a level of 750 in about three weeks
Today Graphite is having a resistance at 777. Closing above, it will then have a short term target of 840.
Graphite should close above 782.50 for tomorrows closing target above of 830
Disclaimer... Not invested...Not an investing/trading recommendation
Graphite India is forming descending triangle. If it tests the support level at 601 and goes below 600, there may be a downfall upto 540/550. In other way, if it crosses past the resistance, then it may go up to 900.