Necklace Pattern Breakout- Omaz Auto Ltd Looks like multi year range is ready for a breakout after repeated failed attempts. Let's see how market reacts to this attempt. This is not a Buy/Sell Call. Chart shared for educational purpose only.
Looking very good as it breaks out of the gann levels and many Crossovers in making Entry can be taken as soon as daily candle breaks out of the trendline and retested. Levels for SL and targets are marked accordingly
Omax Autos is engaged in business of manufacturing and selling of sheet metal components,It has 5 operational manufacturing plants in Bawal, Binola, Bangalore, Lucknow & Pant Nagar.It is setting up 2 more plants in Lucknow-Raebareli area to expand its CV and railways segment Hero Motor Corp has historically been their largest customer.However, with the company...
Buy OMAXAUTO at 77 for a targets of 102, 205, 327 and 629. it is an Investment pick so , i am not keeping any SL for this. and the time period will be 12 to 24 months.
The above analysis is done purely based on price action and chart patterns. The analysis is done on daily TF hence price may take few days to few weeks in order to reach the targets Apart from chart patterns, one more reason to go long in this stock is the good performance of Auto-Sector Shares even in falling market. Entry can be made above the high of...
Omax auto turn around story cmp 85 breakout above 87 Target 100-120-130