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.
This analysis is purely based on price action.
(This stock was analyzed previously on Monthly Time Frame, whose link is also provided here. Do check it. )
Analysis is done on Weekly Time Frame.
Trade Strategy is given in image itself.
Don't run after the price.
*Trade at your own risk & money management. Always do your own study before entering into any...
This is about positional trade opportunity (monthly or weekly) in Supreme Industries (a leader in plastic products sector).
As can be seen in monthly or weekly charts, 1476 level is acting as a multi-year resistance and the stock price has again come near that level. It has tested that level multiple times, hence chances of its breaking are high.
If the stock...
