SWING IDEA - FINOLEX INDUSTRIES
Updated
With a rich legacy and a strong foothold in the industrial sector, Finolex Industries emerges as an intriguing candidate for swing traders seeking opportunities in the market.
Reasons are listed below :
Target - 300 // 325
Stoploss - weekly close below 203
Disclaimer :
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
Reasons are listed below :
- Breakthrough Attempt: After multiple tests, the stock is attempting to break through the critical 240 level, signaling a potential bullish breakout.
- Bullish Marubozu Candle: A bullish Marubozu candle on the weekly timeframe signifies strong buying pressure and potential upward momentum.
- Candlestick Engulfing Pattern: This week's candle has engulfed the previous eight weekly candles, indicating a significant shift in market sentiment towards bullishness.
- 50 EMA Support: The 50-period Exponential Moving Average (EMA) on the weekly chart acts as reliable support, reinforcing the bullish bias.
- 0.618 Fibonacci Support: Finding support at the 0.618 Fibonacci level strengthens the bullish case, suggesting a solid foundation for potential upward movement.
- Constant Higher Highs: The stock has consistently formed higher highs, reflecting a trend of increasing bullish momentum and reinforcing the potential for further gains.
Target - 300 // 325
Stoploss - weekly close below 203
Disclaimer :
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
Trade active
Price up by 6%++Note
Price made a high of 11% ++Note
Achieved 16.5% ++Note
Achieved 18.6%Note
made a high of 22.5% ++Trade closed: target reached
1st target achieved : 28% ++Note
2nd target achieved : 39% ++Trade closed: target reached
2nd target achieved : 39% ++Note
Made a high of 47%++Note
price broke out, retested 325 levels and is now continuing its rally
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