Looking for buying opportunity if takes support at trend lineWill go long on tight stop, consolidating after breakout...
ORIENTELEC trade ideas
Buy Orient Electric: Looks StrongOrient Electric has been in strong buy zone. Even in week markets the stock seems to be strong.
The target of 386 is achievable in short term of 3 months which is 12% up from current levels of 344.
You can keep liberal stop loss of 315 on weekly closing basis.
**ideas are my own**Invest as per your risk taking ability**
CUP AND HANDLE PATTERN FORMATION IN DAILY TIME FRAME THIS STOCK IS FORMING A CUP AND HANDLE PATTERN.
ONE CAN GO LONG ABOVE -348
STOP L AROUND- 330 (AS PER YOUR RISK)
///DO YOUR ANALYSIS ALSO///
rounding bottom pattern in orient electricvolume breakout
rsi convergence
rounding bottom
stoploss= breach of trendline of nearest support which is placed around 316
target= around 356-360
OrientelecCup and handle formation in daily time frame
Expecting a good upmove above the marked resistance level on a closing basis
Target level marked
**Educational View only
ORIENT ELECTRIC ::: BULLISHDATE: 11 MAY 2021
INSTRUMENT: ORIENT ELECTRIC
TREND: BUY
TIME FRAME: DAY
CMP: 288.85
BUY ABOVE: 295
STOP LOSS: 277
TGT 01: 303
TGT 02: 317
DISCLAIMER:
We are not S E B I registered analysts. Please consult your personal financial advisor before investing. We are not responsible for your profits/losses whatsoever.
OrientElec Short term BreakoutOrient electronics is trading at 284 and is in consolidation, if it crosses and holds above 285 there can be a short term breakout in near term. Target to achieve is 355
Education Purpose
At supprt levelStock is at support level of the uptrend, may go long for target of 204, SL 172.
The stocks discussed do not constitute Investment advise and is merely an effort towards enhancing learning and knowledge
