Time to Buy/Bottomfish #cochinship ?

At this juncture cochin Shipyard offers good RR. From a deep price and Time correction, the stock formed a base and broke out of it and showing signs of reversal. A potential stage 2.

The reasons for going long are as follows.

-Stage 2 Breakout
-Formed Double Bottom in DTF
-Narrow Range candles with Dry Volume
- Channel Breakout.

Keep In mind:
- Volumes need to improve.
-Expect Shakeouts.

Tweak the SL as per your risk appetite. Like I mentioned in the beginning, if this is a reversal then the reward will be high.

As always- Please study the chart and do your due diligence. And please do not trade on any tips. Enter only if you understand the company, the chart and the price.

#StocksInFocus
channelbreakDouble Top or BottomParallel Channelreversalpatternstage2breakoutstageanalysisTrend Analysis

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