Valiant Organics Ltd - Positional Call (1 Year)
Technically:
Cup & Handle pattern (refer to Daily chart for more clarity)
Bullish divergence (refer to Monthly chart)
Trend line Resistance (Should touch that)
CMP - 497
Target 1 : 615
Target 2 : 720
Stop Loss : 330
-Can accumulate at this level or wait for 2-4% more correction depending on the market...
A cup and handle is a technical chart pattern that resembles a cup and handle where the cup is in the shape of a "u" and the handle has a slight downward drift.
The target in this case is the size of the cup.
The only problem that I see here is that a Cup & Handle is a continuation pattern!
But, here, we're looking for a reversal!
A small cap company with good fundamentals.
Revenue increased but net profit declined due to declining OPM.
Technically bullish as price is moving in a WXY corrective move towards upside after a long term downtrend.
As per conventional TA, it is forming a nice cup with handle pattern with a technical target of around 1300.
Good to accumulate around 560-610...
Strong accumulation near the trend line and after breakout again. Decline in % of Deliverable Quantity to Traded Quantity indicates profit booking. Healthy correction to the support zone may be good for fresh buyers. 17% movement in last week.
Not any recommendation Just an observation. I may be wrong
Really like this complany though promoters keeps on selling on rise, made a higher low already on small time frame, one higher high on daily and we may see a good move.
DSICLAIMER : ( this is for educational purpose only and not recommendation for BUY / SELL . Please consult your financial advisor before investment.
- Learn first and then take L from that , you will then EARN .
- Follow simple strategy
- Keep Stop loss on every trade that minimize your loss and save premium for next trade .
- Dont do option if your beginner ,...
NSE:VALIANTORG Levels are Mentioned in the chart... Look for Swing...
Note:
1. Views are personal. Recheck and take the trade as per your RR.
2. Always remember SL is your lifeline not the big target...
3.Follow us for more patterns and like, share so that we feel it is helpful to many and share more patterns...
3. Views given here is not a tip rather it is for...
BSE listed:
Name : Valiant Organics Ltd.
Code: 540145
Trading idea:
Long suggested above 1185
Stop at 935
Lots 40 (for a capital of Rs 1 lac and a risk appetite of 10%).
Technical rationale:
Stock has corrected 22% from 52wks high with low volumes
and has been in a consolidation phase for the last few days,
effectively scaling up by 10%.
Stock possibly finding...
