JPPOWER 1W charttaking support on weekly chart. chances for an uptrend. penny stock, reduce the position sizing.
JPPOWER trade ideas
long term i am going to add on dip
company with gud valuation ,promotor revoked pledged share in june qtr
my entry price 4-4.9
t1-6.9
t2-10.10
reason to buy- gud fundamentals ,well known and established company
4.10 is .618 fibo level
3.7-4.1 is gud demand zone
JPPOWERMultibagger??
Showing momentum in recent months. At a resistance level of 6.55 . If breaks and sustains on weekly basis expecting a good move and volatility in stock after marked level 1 or 2
**educational view
Buy around 4.70 - 5.0Buy around 4.70 - 5.0
Stop Loss 4.25 on weekly closing bases
Long-term target-7.25 // 10.15 // 26.30
Please follow me for more ideas and update
Do your due diligence this is not investment advice.
JPPOWERBULLISH DIVERGENCE : A STOCK IS SAID TO BE IN BULLISH DIVERGENCE WHEN MOMENTUM IN RSI INDICATOR IS MORE THAN THE PRICE MOVEMENT ,AS ONE CAN SEE IN THE ABOVE CHART PRICE MOMENTUM IS IN DOWN TREND WHEREAS RSI MOMENTUM IS IN UPTREND THIS IS AN INDICATION OR SIGN OF EXTREME BULLISHNESS
I HOPE U ALL UNDERSTOOD THIS CONCEPT CLEARLY IF SO PLEASE SUPPORT BY FOLLOWING AND LIKING
JPPOWER CASH CHARTCMP-3.20
TARGET-6/10/15++
STOP LOSS-0
Time Horizon-1-2 Years.
As the stock is a penny idea is only for Risky Players.
JPPowerJppower is a hero or Zero stock (highly risky bet can become zero)
Reasons for selecting this stock:
1.Technically forming Head and Shoulders pattern target could be RS10 minimum 1yr holding
And longterm (3yrs target -25)
2.jppower management continuously putting lot of efforts to reduce debt and their efforts are reflected in their hardwork .
3.JPPower management and ICICI securities reduced debt from 11000crs to 5000crs through Debt Restructuring method in 2020 and Again reduced 299.51crs debt this year(March 2021)so Net Debt remaining (5000crs-299.51crs=4700.49crs approx)
4.ICICI Securities has approx 12% stake in jppower which is a positive indication.
