Please look into the chart for a detailed understanding.
Consider these for short-term & swing trades with 2% profit.
For BTST trades consider booking
target for 1% - 2%
For long-term trades look out for resistance drawn above closing.
Please consider these ideas for educational purpose
Please note that, if there are some big targets, those are drawn...
NSE:HITECH BSE:HITECH
Time Frame – Weekly
Observations : -
*Trendline Breakout with High volume
*Range breakout with High volume
*Trading in rising wedge pattern
*Good consolidation seen between 71 to 86 range
Resistance – 98.60 / 120 / 151 / 171
Support – 70 - 77 zone
DISCLAIMER : NCFM Certified Technical Analyst. I am not SEBI registered...
Hitech is a performance based stock. and if we look at the chart we can see it has given the breakout after a nice consolidation of 6 months.
it's exoected to give a nice target of R:R :: 1:4.
Reason
Support at the VWAP.
RSI is in Bullish zone. expected to go higher.
Successful breakout after the 6 month consolidation.
High Volume trade last 2 days.
...
Hi-Tech Pipes Ltd is a leading manufacturer and supplier of ERW (Electric Resistance Welding) Pipes. The company specialize in Steel Pipes and Tubes for a variety of industries, such as Infrastructure, Telecommunications, Defence, Railroads and many more.
Hi-Tech Pipes CMP is 80.50, The Negative aspects of the company are declining annual net profits, declining...
Hi-Tech pipes is one of India’s leading manufacturers of Steel Pipes with a presence in more than 5,000 retail stores
Trading above 10 , 21, 63 , 100 , 200 EMA - ATH breakout, TARGET AS MENTIONED IN CHART WITH 634 as SL
Market Cap
₹ 883 Cr.
Stock P/E
25.2
ROCE
15.7 %
Promoter holding
59.3 %
Debt
₹ 322 Cr.
Pledged percentage
1.78 %
Debt to...
stock has given breakout in weekly and stock also have taken pause in daily time frame and showing strength with volumes. bulls accumulated before breaking . risk is bigger here as stock may restest the level again so around 10 % sl.
Hitech Pipes CMP - 194.45
Looking bullish and range breakout in higher time frame. One can go for Intraday Trade setup with the following entry, exit & targets
Buy At or Above 196 / Stop Loss 192
Target 1 - 199
Target 2 - 202
Target 3 - 205 / 210
Disclaimer: This is my view and for educational purpose only.
