United Spirits (Mcdowells-N) - In an ascending uptrend channelUnited Spirits (Mcdowells) - Bounced from the bottom of the ascending channel, minor resistance at 950, on crossing, uptrend may continue to previous highs, HH-HL formation seen. RS is strong. CMP>20DEMA>50DEMA>200DEMA. Will be weak if breaks down below the channel.
Only for educational purposes, not a buy/sell recommendation.
UNITDSPR trade ideas
MCDOWELL_N (UNITED SPIRITS LTD)Buy @ 801-816
Break out after consolidation of 6 years
Cmp 827.70
Pe 88.4x
Roce 13.3%
Roe 9.49%
Mcap 60144 cr.
Enterprise value 61097 cr.
Reserves 4094 cr
Products:- johnnie walker, black dog, black & white, vat 69, antiquity, signature, royal challenge, mcdowell’s no.1, smirnoff and captain morgan.
United Spirits Short Term BreakoutThe stock has broken out with good volumes and retested therefore it may undergo a reversal rally. Trade is supported by brokerage calls and Supports Nearby.
Risk Reward Ratio - 2:1
SL is placed below support zone & the previously upper trendline. The target is placed based on fundamentals.
MCDOWELL - Morning Star formation at retest - Swing TradeThe analysis is done on daily TF hence price may take few days to few weeks in order to reach the targets.
Trade setup is explained in image itself.
Below is the zoomed in image for better understanding
Checkout BATAINDIA trade (linked below) to understand how to trade Morning Star formation
Also, you can check out previous analysis of MCDOWELL as well (linked below)
The above analysis is purely for educational purpose. Traders must do their own study & follow risk management before entering into any trade.
Checkout my other ideas to understand how one can earn from stock markets with simple trade setups.
Feel Free to connect with me for any query or suggestion regarding this stock or Price Action Analysis.
6 yrs brkout UNITED SPIRITNSE:MCDOWELL_N
WAIT FOR THIS MONTH CANDLE TO CLOSE FOR CONFIRMATION (then buy on dips)
please note its monthly TF. SL will be big but Target also be big.
can find opportunities on smaller TF
patience will be key.
#the_pravin #simplepriceaction #notoindicator #nakedchart #swingtrading