SWING IDEA - RADICO KHAITAN
Updated
Radico Khaitan, one of India's leading liquor manufacturers, presents a potential swing trade opportunity based on strong technical signals.
Reasons are listed below:
Target - 2160 // 2400
Stoploss - daily close below 1625
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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:
- Break of Ascending Triangle Pattern: The stock has broken out of an ascending triangle pattern, indicating strong bullish momentum and a potential continuation of the uptrend.
- Bullish Engulfing Candle on Weekly Timeframe: The formation of a bullish engulfing candle on the weekly chart signifies a strong reversal signal, reinforcing the stock's upward movement.
- Trading Above 50 and 200 EMA: Radico Khaitan is trading comfortably above both the 50-day and 200-day exponential moving averages, further confirming the strength of the current uptrend.
- All-Time High Daily Close: The stock recently closed at an all-time high, indicating strong market confidence and potential for further gains.
Target - 2160 // 2400
Stoploss - daily close below 1625
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
Price retraced and has now made a doji
We can accumulate here
Note
made a high of 7%++Note
made a high of 11%++Note
hold!Trade closed: target reached
1st target achieved : 26%++Trade closed: target reached
2nd target achieved : 36%++
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