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SUPREME INDUSTRIES LTDSUPREME INDUSTRIES LTDSUPREME INDUSTRIES LTD

SUPREME INDUSTRIES LTD

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SUPREMEIND trade ideas

SUPREME INDUSTRIES: Key Support Zone – Accumulation or Relief ?📉 Stock Correction: Supreme Industries has seen a sharp decline of nearly 45% from its all-time high, bringing it down to a critical support zone. 📊 Technical Setup: ✅ 200-Week SMA Test: The stock is currently hovering around its 200-week simple moving average (SMA), considered strong support level. ✅ Fibonacci 0.618 Retracement: The price has corrected up to ₹3,494, aligning with the 0.618 Fibonacci retracement from its recent high of ₹6,451 – a key level where buyers often step in. ✅ MACD Analysis: Momentum indicators suggest oversold conditions, hinting at a potential relief rally or a trend reversal. 📌 Trading Perspective: 🔹 If the stock holds above the ₹3,494 - ₹3,228 zone, we might witness accumulation leading to a potential upmove. 🔹 A breakout above ₹4,059 (0.5 Fibonacci level) could signal further upside potential. 🔹 A failure to hold support might push the stock towards ₹2,690 (0.786 Fib level). 🎯 Levels to Watch: 🔸 Support: ₹3,494 | ₹3,228 🔸 Resistance: ₹4,059 | ₹4,623 📢 What's your view? Will this level hold, or do we see more downside? Share your thoughts in the comments! 🚀📈
NSE:SUPREMEINDLong
by shekharvsingh1
SUPREME S/R Support and Resistance Levels: Support Levels: These are price points (green line/shade) where a downward trend may be halted due to a concentration of buying interest. Imagine them as a safety net where buyers step in, preventing further decline. Resistance Levels: Conversely, resistance levels (red line/shade) are where upward trends might stall due to increased selling interest. They act like a ceiling where sellers come in to push prices down. Breakouts: Bullish Breakout: When the price moves above resistance, it often indicates strong buying interest and the potential for a continued uptrend. Traders may view this as a signal to buy or hold. Bearish Breakout: When the price falls below support, it can signal strong selling interest and the potential for a continued downtrend. Traders might see this as a cue to sell or avoid buying. 20 EMA (Exponential Moving Average): Above 20 EMA(50 EMA): If the stock price is above the 20 EMA, it suggests a potential uptrend or bullish momentum. Below 20 EMA: If the stock price is below the 20 EMA, it indicates a potential downtrend or bearish momentum. Trendline: A trendline is a straight line drawn on a chart to represent the general direction of a data point set. Uptrend Line: Drawn by connecting the lows in an upward trend. Indicates that the price is moving higher over time. Acts as a support level, where prices tend to bounce upward. Downtrend Line: Drawn by connecting the highs in a downward trend. Indicates that the price is moving lower over time. It acts as a resistance level, where prices tend to drop. RSI: RSI readings greater than the 70 level are overbought territory, and RSI readings lower than the 30 level are considered oversold territory. Combining RSI with Support and Resistance: Support Level: This is a price level where a stock tends to find buying interest, preventing it from falling further. If RSI is showing an oversold condition (below 30) and the price is near or at a strong support level, it could be a good buy signal. Resistance Level: This is a price level where a stock tends to find selling interest, preventing it from rising further. If RSI is showing an overbought condition (above 70) and the price is near or at a strong resistance level, it could be a signal to sell or short the asset. Disclaimer: I am not a SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. Consider the broader market context and consult with a qualified financial advisor before making investment decisions.
NSE:SUPREMEIND
by zenthosh
SUPREME INDUSTRIES LTD - Inverse Head & Shoulder + Cup & Handle 📊 Script: SUPREMEIND (SUPREME INDUSTRIES LIMITED) 📊 Nifty50 Stock: NO 📊 Sectoral Index: NIFTY 500 / NIFTY MIDCAP 📊 Sector: Industrials Capital Goods 📊 Industry: Plastic Products - Industrial Key highlights: 💡⚡ 📈 Script is trading at upper band of Bollinger Bands (BB) and giving breakout of it. 📈 MACD is giving crossover. 📈 Double Moving Averages also giving crossover. 📈 Volume is increasing along with price which is volume breakout. 📈 Script is giving breakout of Inverse Head & Shoulder + Cup & Handle + trendline. 📈 Current RSI is around 68. 📈 One can go for Swing Trade. ⏱️ C.M.P 📑💰- 2263 🟢 Target 🎯🏆 - 2474 ⚠️ Stoploss ☠️🚫 - 2131 ⚠️ Important: Always maintain your Risk & Reward Ratio. ⚠️ Purely technical based pick. ✅Like and follow to never miss a new idea!✅ Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes. Eat🍜 Sleep😴 TradingView📈 Repeat🔁 Happy learning with trading. Cheers!🥂
NSE:SUPREMEINDLong
by radha_23
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