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TRANSFORMERS AND RECTIFIERS (ITRANSFORMERS AND RECTIFIERS (ITRANSFORMERS AND RECTIFIERS (I

TRANSFORMERS AND RECTIFIERS (I

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TARIL trade ideas

Potential Positional Buy Setup Potential Positional Buy Setup: Current Price: ₹518.30 (as of the chart) Observed Technical Signals: The price is currently above the Supertrend indicator (10, 3), which is showing a green signal, suggesting an uptrend. The price has recently broken above a potential resistance level around ₹500.00. There appears to be support around the ₹466.55 level. Potential Entry Point: Consider entering a long position around the current price of ₹518.30 or on a slight pullback towards the ₹500-₹510 zone. This allows for potential confirmation of the breakout. Stop Loss: Place a stop-loss order below the recent swing low and the support level at ₹466.50. This level provides a buffer against a potential reversal of the upward momentum. Rationale: The Supertrend indicator is in a bullish mode. The breakout above the ₹500 level suggests potential for further upward movement. The ₹466.50 level has acted as support previously and provides a logical level to protect your position. Potential Targets (for positional trading, these are longer-term targets): Target 1: The previous high around ₹543.20. Target 2: If the upward momentum continues, the stock could potentially move towards higher levels, but these would need to be determined based on further price action and technical analysis. Important Considerations for Positional Trading: Time Horizon: Positional trades typically last for several weeks to a few months. Be prepared to hold the stock for this duration. Position Sizing: Only invest an amount that you can afford to lose, as the stock market carries inherent risks. Broader Market Conditions: Keep an eye on the overall market trends and the performance of the power sector, as these can influence the stock's movement. Fundamental Analysis: While this analysis is based on the chart, it's crucial to also look at the company's fundamentals, such as its financial performance, order book, and future prospects, to make a well-informed decision. Risk Management: Always use stop-loss orders to limit potential losses. Review and Adjust: Continuously monitor the price action and be prepared to adjust your stop loss or targets as the trade progresses.
BSE:TARILLong
by RajputAmarjit