GRANULES trade ideas
Granules technically long for 305 320 immediate targetsGranules has again taken support around 280 levels and consolidating. With nifty Pharma showing signs of consolidation too. With improvement or uptick in nifty Pharma will lead the API major granules a rapid recover to 305-320.
On weekly charts, a doji candle has been formed which signals positive bias from here. Volumes too have been minimal showing no major connection for falling prices vis a vis low volumes. Hence with mkt recovery this is prominent candidate to enjoy fast recovery in short term.
GRANULES - 50 DMA MAGIC ?#GRANULES yesterday closed near 50 55 DMA which has acted as strong support since the uptrend started from 240 zones...
342 to 348 are good zones to buy this stock
---For Positional trade Stop-loss around 320
---For Swing trades Stop-loss around 333
This stock made highs around December 2020 at 430 odd zones....After good Q2 results, buyback around 400 Rs and looking at future API trend...can be good bet at current market price.
[POSITIONAL] GRANULES LONG BETrisk: Reward ratio is 1: 2
Rest as per Charts
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Note -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells “where” to act in “what direction. Unless it triggers, like, let’s say the candle doesn’t break the level which says “Buy/Sell if it breaks”, You should not buy/sell at all.
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I use shorthands for my trades.
“Positional” - means You can carry these positions and I do not see sharp volatility ahead.
“Intraday” -means You must close this position at any cost by the end of the day.
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Always follow a stop loss.
In the case of Intraday trades, it is mostly the “Low/High of the Candle”.
In the case of Positional trades, it is mostly the previous swings
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Granules India breakout double bottomComplex inverse head and shoulder pattern +
Double bottom pattern +
Darvas Box consolidation +
Cup and handle pattern
When so many patterns are formed in one chart the probability of BIG move is very high.
One can trade for All time high target and stop loss below 295 on daily closing basis
