Time Technoplast offers good RR. Good Swing candidate.
✅Stock is in Uptrend.
✅HH_HL structure intact.
✅Trading in a channel and not violating the channel
yet.
✅Right at DMA and close to the bottom of the
channel.
✅Offering good Risk to reward.
✅Dry volume when pulling back.
✅Bouncing from 50 DMA each time the stock
retrace and close below 50 DMA.
❗️Bearish sentiments in the market.
❗️Risk of breaking down from the channel.
One can try going long from CMP or wait for the stock to reach the channel bottom and show signs of reversal. Enter only if it shows signs of reversal from the channel bottom. The risk is around 7% if you get an entry from the channel bottom. This setup offers good Risk to reward. In any case, respect your SL. Remember we are in a down-trending market. No big bets yet. Trade lite. The chart shared is only for educational purposes. Please do your due diligence before trading.
▶️Market Cap---₹ 9,238 Cr.
▶️Current Price---₹ 407
▶️Stock P/E---27.7
▶️ROCE---15.6 %
▶️ROE---12.5 %
✅HH_HL structure intact.
✅Trading in a channel and not violating the channel
yet.
✅Right at DMA and close to the bottom of the
channel.
✅Offering good Risk to reward.
✅Dry volume when pulling back.
✅Bouncing from 50 DMA each time the stock
retrace and close below 50 DMA.
❗️Bearish sentiments in the market.
❗️Risk of breaking down from the channel.
One can try going long from CMP or wait for the stock to reach the channel bottom and show signs of reversal. Enter only if it shows signs of reversal from the channel bottom. The risk is around 7% if you get an entry from the channel bottom. This setup offers good Risk to reward. In any case, respect your SL. Remember we are in a down-trending market. No big bets yet. Trade lite. The chart shared is only for educational purposes. Please do your due diligence before trading.
▶️Market Cap---₹ 9,238 Cr.
▶️Current Price---₹ 407
▶️Stock P/E---27.7
▶️ROCE---15.6 %
▶️ROE---12.5 %
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