SWING IDEA - CYIENT
Updated
Cyient, a global engineering and technology solutions company, is displaying technical indicators that suggest a potential swing trading opportunity.
Reasons are listed below :
Target - 2190 // 2460
Stoploss - weekly close below 1660
Disclaimer :
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
Reasons are listed below :
- 1700 Support Zone: The 1700 level has been established as a strong support zone, providing a solid base for potential upward movement.
- Double Bottom Pattern: The formation of a double bottom pattern indicates a potential reversal from the downtrend, signaling a bullish outlook.
- Bullish Hammer Candle on Weekly Timeframe: The presence of a bullish hammer candle on the weekly chart suggests a reversal in sentiment from bearish to bullish, indicating strong buying pressure.
- Engulfed 6 Weekly Candles: A recent bullish candle has engulfed the previous 6 weekly candles, demonstrating significant buying interest and a potential shift in trend.
- 0.382 Fibonacci Support: The stock is finding support at the 0.382 Fibonacci retracement level, a key area where prices often bounce back, indicating potential for an upward move.
- 50 EMA Support: The stock is supported by the 50-week exponential moving average (EMA), reinforcing the bullish sentiment and providing a strong support level.
Target - 2190 // 2460
Stoploss - weekly close below 1660
Disclaimer :
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
Note
Stock is gaining momentum, will possibly rallyNote
hold!Note
close to our SL, cautions !Note
near SLNote
hold!Note
strong bullish engulfing candle at support level, hold!Note
we are back in profit , hold!Note
made a high of 6%++
HOLD!
Note
hold!Note
made a high of 11%++
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