SWARAJ ENGINESBetween June 5th and June 24th, Swaraj Engines' stock price increased from 2400 to 3100, accompanied by high trading volumes. Since then, the stock has been consolidating, with 3100 acting as resistance and 2850 as support. On July 30, 2024, the stock attempted to break out of this resistance level with strong volumes but was unsuccessful. However, recent trading on August 19 and August 23, 2024, saw significant volumes, suggesting that the stock might be poised to break through the resistance zone.
Ideal Buying Price - 2990-3120
Stop Loss - 2850
SWARAJENG trade ideas
Swaraj Engines Boy , 🚜 and daddy - what next? NSE:SWARAJENG
~ Stock has stuck in a range for the last two years, line in a box
~ exactly playing from the last analysis horizontal line drawn
~ stock when below oblique support line and now trying to come back to its rails
~ check out below analysis from Sept 21 2022
~ Getting 120% in slightly over a year
~ Those not locked in profits will be stuck for the next rally.
~ A simple range analysis of the stock over the years tells the company's story.
~ With M&M now as the parent company - I don't know if there will be any wings for growth for this company.
~ Makes engines for tractor
disc: Have small tracking position, I should have existed as per my time stop but still holding :)
SWARAJENGNSE:SWARAJENG
[ b]One Can Enter Now ! Or Wait for Retest of the Trendline (BO) Or wait For better R:R ratio
Note :
1.One Can Go long with a Strict SL below the Trendline or Swing Low of Daily Candle.
2. Close, should be good and Clean.
3. R:R ratio should be 1 :2 minimum
4. Plan as per your RISK appetite
Disclaimer : You are responsible for your Profits and loss, Shared for Educational purpose
near supply zone1) Weekly chart analysis
2) header and shoulder patterns completed in chart
3) decent volume in chart
4) volume meeting chart header shoulder pattern
5) stock at supply zone breakout not done
6) supply zone 2200
7) demanda zone 1900
8) The demand zone is major support for the stock
9) no recomandation for buy and sell
SWARAJnet profit rose to 349.6 million Indian rupees in the fiscal fourth quarter from 218.6 million rupees a year ago.
Earnings per share for the quarter ended March 31 climbed to 28.78 rupees from 18 rupees a year earlier.
Revenue from operations of the diesel engines manufacturer jumped year on year to 3.60 billion rupees from 2.42 billion rupees, according to a Thursday filing.
The board of Swaraj Engines declared a dividend of 92 rupees per share for the fiscal year ended March 31.