SWING IDEA - GRINDWELL NORTON
Updated
Grindwell Norton invites attention as it positions itself for a potential breakout. This exploration delves into the compelling factors shaping a promising swing trading opportunity.
Reasons are listed below :
Target - 2635 // 2864
Stoploss - weekly close below 2200
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.
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Reasons are listed below :
- Grindwell Norton has undergone rigorous testing at the 2320 levels, displaying resilience and now gearing up for a potential breakthrough.
- A bullish ascending triangle pattern is unfolding, suggesting an imminent breakout as the stock converges towards higher levels.
- The weekly timeframe reveals a powerful bullish signal in the form of an engulfing candle, hinting at a shift in market sentiment and the potential for upward momentum.
- Witnessing a consistent pattern of higher highs, Grindwell Norton exemplifies a robust upward trajectory, reinforcing confidence in the prevailing bullish trend.
- Trading above both the 50-day and 200-day Exponential Moving Averages (EMAs) on the weekly chart, the stock exhibits strength and stability, enhancing the overall technical outlook.
- A notable increase in volume activity aligns with recent price movements, adding weight to the potential breakout scenario.
Target - 2635 // 2864
Stoploss - weekly close below 2200
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
Trade closed: stop reached
StopLoss hit.-8.15%
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