Long on Walchandnagar, reversal in place and breaking out of range with huge volumes
In monthly Timeframe WALCHANNAG can be seen forming symmetrical triangle pattern If it breaks the triangle upwards then we can see good move upwards from 76-78 If it breaks down from triangle then we will see bearish treand in WALCHANNAG from 52. Disclamer: This analysis is for educational purpose only. This is not a financial advice. Do your own research.
Walchandnagar Industries Ltd. is a Heavy Engineering company which has its operations in Engineering, Fabrication and manufacturing for Sugar plants, Industrial and Marine gears, Defense, Aerospace, Nuclear power, Railway etc. Its CMP is 65.7. The negatives of the company are that they have high promoter pledge, decline in quarterly net profits and book value...
Trade for 17/09/2021, It has formed an inverted cup and handle, a chance for gain through short, price might go down for correction for few more days.