ALICON - 50% PROFIT POTENTIALThis stock is forming ascending triangle . A brk and sustain abv the supply zone can push the prices higher to 1500
ALICON trade ideas
Alicon Castalloy Looking good at CMP and an Inv H&S kind of pattern is also being formed and expecting a good move as marked on the charts
SL below 960
ALICON CASTALLOYALICON CASTALLOY (1D)
CMP 861.25
Stock is consolidating in a range
Stock formed Diamond pattern
Ready for movement
Auto sector is bullish so we can see same rally in this also
Alicon Castalloy Ltd #Bullish #Breakout#Stock : #ALICON CASTALLOY LTD
#Chart Time Frame: #Daily
#Structure : #Breakout on #Daily basis of #Cup & #Handle with Decent #Volumes
On #Daily Time Frame the Stock has given a Good #Breakout with decent #Volumes of #Cup & #Handle Pattern which is a #Bullish Pattern
So stock looks good for long as per the levels mentioned below:
#CMP - 1071.60 or BoD 960
#Target 1 - 1160
#Target 2 - 1302
#Target 3 - 1444
#SL - 847
#Holding Time Frame - #Short to #Medium Term
All charts & studies posted here are only for #EDUCATIONAL PURPOSE
Aliconcastalloy becomes a buy ONLY if it closes above 1018!stock becomes a buy ONLY if it closes above 1018 level!
ALICON CASTALLOY*ALICON CASTALLOY* :734. a good 5 weeks of consolidation to form a base at the support of 649,has given a close above its 5 weeks high, good volumes are seen in last 2 sessions. forming a kind of descending wedge pattern breakout on radar.@koolvicky
ALICON NSE AliconCastAlloy BULLISHVIEW ABOVE 860ALICON NSE AliconCastAlloy is Bullish if 860 holds. New Lifetime High. Positive trend. Fresh Breakout.
***** Educational Purpose only.
bullish breakout weekly and daily broke weekly and daily resistance. With volume after seeing seller narrow range contraction
Bullish way to break closing As per the analysis from past we can say that as the candel breaks the closing of yesterday as closing and end of candel is near it can give a upward breakout and you also can observe what happens throughout the day.
Anyone can Dm me to discuss about the same.
Supply Zone BreakoutStock Analysis: Alicon castalloy looks like broken the supply zone sustain on this level expected to reach the target given on the chart with zone bottom as the stoploss level. Let's see
Happy Investing!
ALICON - VCP PROGRESSCMP 621
Long suggested ONLY ABOVE 650.
Stop 590
Target Open
Technical logic:
1) Stock has been in a strong uptrend with stock above key MAs.
2) Stock has been consolidating from 52 week highs and during consolidation process has dropped 28% in the first swing, 22% in the second swing and 11% in the third swing indicating a VCP in progress along with volume contraction.
Fundamental logic:
1) Key profitability parameters witnessed steady annual growth in the last 4 quarters.
Sales / Operating Profit / Net Profit (Quarterly Y-o-Y growth).
Sep-17 Dec-17 Mar-18 Jun-18
26.21% 48.16% 43.23% 50.37%
7.94% 40.95% 48.21% 56.00%
39.91% 99.61% 68.02% 101.31%
2) Promoter holding 65%.
Note:
Debt/Equity 1.4, Mkt cap 850 cr; FF 250 cr.
