Supremeind is giving BO on a huge volume. Delivery volume is also good. R:R is not that favorable. Plastic stocks also reviving now. This can be a leader in the plastic industry. Keep a watch for a better entry.
Cup & Handle Breakout with good volume.
Stock can go as marked on the chart
Technicals
—Bullish Crossover
—Above 20 EMA
—Higher High breakout
—RSI 71
Fundamental
Stock P/E 44.2
ROCE 26.8%
ROE 21.0 %
Market Cap ₹38,226Cr.
educational purpose only!✨
Do your research before making any investment🥂
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
=Took Support From trendline
=Head and Shoulder pattern breakout (H&S)with high volume
=Price consolidated at 200 EMA before neckline of H&S pattern
=monthly close above resistance
The stock has reached lower trendline and may undergo a reversal rally. Trade is supported by brokerage calls and Supports Nearby.
Risk Reward Ratio - 3:1
SL is placed below support zone, 200 EMA & the lower trendline. The target is placed near resistance.
Fundamentally a super company in Plastics.
Technically the stock could breakout of a box post a time based correction its had for a long time while it was in the ASM framework.
Its now nomore in ASM list.
Long above 2350 with a 5% SL. So thts close to 2235.
