FINCABLES trade ideas
Finolex Cable Brekout on Daily ChartsFinolex Cables Has given a breakout on the Daily Charts...
Trendline Breakout on Daily Charts with the Stronger Volumes
Target 1- 596 (Strong Resistance at this Point)
Target 2- 608 (52 Week high as well)
Disclaimer: Only for Educational purposes and not as an investment advice
Finolex cables keep on radarFINCABLES had given a very strong volume breakout from Inverted head and shoulders on 29th July. It had confluence with 200 DEMA breakout. It has been consolidating since 29th July in a tight range.
Once the stock breaks 445, it will move quickly to 475 levels.
Risk reward ratio at CMP is very attractive
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uptrend will continue,it may reach above 750 by the end of marchStock price above the 50-day moving average is usually considered bullish. Stock price below the 50-day moving average is usually considered bearish. If the price meets the 50 day SMA as support and bounces upwards, consider a long entry
Finolex Cables: Buy at for 24% profit Hi All,
Buy Finolex Industries , the stock is currently at 501 levels. Buy the stock in correction as well. Any decline in stock will also be good opportunity.
Keep target of 620-625 which is 24% from current levels of 501. Keep initial stop loss of 425 on weekly closing basis.
Once the stock starts moving up, then trail the stop loss to you buying price.
***Ideas are my own***Buy the stock as per your risk taking ability***