Stock Analysis: Marine Electrical (I) Lt• The stock has broken out above a resistance level near ₹300.
• Price currently trades at all time high level.
• Strong bullish candle with an 8.21% increase today and high volume (2.48M), indicating buying strength.
• The breakout above ₹298 with strong volume and upward sloping EMAs supports bullish continuation.
• Price remains above the 9 EMA, indicating a strong uptrend.
Position Entry:
• If the price remains above the breakout level (₹298–₹300) or retests it, it could provide a better risk-reward entry.
• Enter 5% of capital as an initial position.
Pyramiding Positions:
• Add smaller positions on pullbacks to the 9 EMA or 21 EMA & in the daily time frame.
Stop-Loss:
• Cut half of your position if the price closes below the 21 EMA for 2 consecutive days.
• Place a stop-loss below the 50 EMA or exit if the price closes below the 50 EMA for 2 consecutive days.
Disclaimer:
This technical analysis is for educational and informational purposes only. Please conduct further research and consult your financial advisor before making any investment decisions. Investing in the stock market involves risk, and any decision you make is at your own discretion and responsibility.
Neither I nor this platform shall be liable for any financial losses incurred.
