REDINGTON trade ideas
REDINGTON - STRONG ALL TIME HIGH BREAKOUTEntry level triggered - 200
If falls again then you need to average at 160 level
Targets - 260,300+
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Redington India, Bullish, Kindly do your own studyThis stock is near ATH level and ready for blast.
Target-Sky is the limit
Monthly price is in upper half of BB
Monthly MACD uptick
Monthly RSI is above 60
Weekly price has challenged upper BB
Weekly MACD is in PCO state
Weekly RSI is above 60
Weekly ADX is strong
Daily- stock has given rang breakout with huge volume
Daily MACD has given PCO above zero line
All EMAS positive crossover
Redington_65% upside potentialRedington or Redington Group is an organization of companies offering services and products in the field of mobile handsets, mobile accessories, information technology services, artificial intelligence, big data analysis, 5G communications, Internet of Things and supply chain management.
The company looks all set to move into a wave 3 structure now which can take the price from current 154 level to 250(a handsome 64% return).
The stock had completed its last impulse move in Dec.2022 and that was the Wave 1 high.
From Dec2022 till the most recent low of oct.2023, the stock was in a 10month long corrective wave 2 pattern.
The correction now seems completed(structurally all legs achieved) and therefore the stock should now look to advance towards the projected wave 3 target of 250 going forward into 2024.
Note*- This chart is for educational purpose only.
REDINGTON - Bullish Swing ReversalNSE: REDINGTON is closing with a bullish swing reversal candle supported with volumes.
Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days.
The stock has been moving along the horizontal support for the past few days which is indicating demand.
One can look for a 8% to 12% gain on deployed capital in this swing trade.
The view is to be discarded in the event of the stock breaking previous swing low.
#NSEindia #Trading #StockMarketindia #Tradingview #SwingTrade
Disclaimer:
This is for educational purposes only.