ANDHRAPET - Andhara Petrochemicals Ltd - Buy & HoldTechnical Analysis of ANDHRAPET Based on the Provided Chart
Disclaimer: This analysis is based solely on the provided chart and does not consider any fundamental factors. It is for informational purposes only and should not be considered financial advice.
Overall Trend: Bullish
The chart indicates a strong bullish sentiment for ANDHRAPET . Here's a breakdown of the key technical indicators:
1. Price Action: - The price is currently above the 200-day EMA (Exponential Moving Average), which is a bullish signal. There have been consistent higher highs and higher lows, confirming an uptrend.
2. Support and Resistance Levels: - The 112.05 level (0.5 Fibonacci level) seems to be acting as strong support. The chart suggests potential target levels at 126.60 (TP1) and 131.27 (TP2).
3. RSI (Relative Strength Index): - The RSI is currently above 50, indicating bullish momentum. However, it's not overbought, suggesting there might be room for further price increases.
Trading Strategy (Based on the Chart)
Buy Signal: A buy signal could be triggered if the price breaks above the 115.70 level with strong volume.
Targets: Potential profit-taking levels are at 126.60 (TP1) and 131.27 (TP2) .
Stop-Loss: A stop-loss can be placed below the 112.05 support level.
Additional Considerations
Volume: - Increased trading volume during price movements can strengthen the signal.
Risk Management: - Always use stop-loss orders to protect your investment.
Diversification: Consider diversifying your portfolio to manage risk.
Cautions
Technical analysis is not foolproof. Market conditions can change rapidly.
It's essential to combine technical analysis with fundamental analysis for a comprehensive view.
Remember: This analysis is based on a single chart and snapshot in time. Market conditions can change rapidly. Always conduct your own research or consult with a financial advisor before making investment decisions as I am not SEBI registered person and this is my personal opinion about the stock ANDHRAPET
Thanks for your support as always
ANDHRAPET trade ideas
ANDHRA PETROCHEMICALS WEEKLY TIME FRAMEThe Structure looks good to us, waiting for this instrument to correct and then give us these opportunities as shown on this instrument (Price Chart).
Note: its my view only and its for educational purpose only. only who has got knowledge about this strategy, will understand what to be done on this setup. its purely based on my technical analysis only (strategies). we don't focus on the short term moves, we look for only for Bullish or Bearish Impulsive moves on the setups after a good price action is formed as per the strategy. we never get into corrective moves. because it will test our patience and also it will be a bullish or a bearish trap. and try trade the big moves.
we do not get into bullish or bearish traps. we anticipate and get into only big bullish or bearish moves (Impulsive Moves).
Just ride the Bullish or Bearish Impulsive Move. Learn & Know the Complete Market Cycle.
buy low and sell high concept. buy at cheaper price and sell at expensive price.
Keep it simple, keep it Unique.
please keep your comments useful & respectful.
Thanks for your support....
Tradelikemee Academy
Andra petrochemicals weekly chart analysiDecenting triangle pattern ...the red volumes in bottom indicates that sellers are in control ...if it break 110 down expect more bearish ..but same way it can chances for up movement...even though consider market situation .wait to break 110 level ...if it break then exit ... because more bearish chances ..
Andhra PetroAndhra Petro- The Company is the sole manufacturer of Oxo-Alcohols in India employing the state-of-the-art technology "Selector-30" provided by Davy Process Technology, London, UK.
-Capacity utilisation was 99% in FY21 vs 91.6% in FY20
-Take support at 200 EMA and reverse
- Currently having a PE of just 4.74, highly Value unlocking in coming time possible.