SWING IDEA - RAMKRISHNA FORGINS
Updated
Consider a compelling swing trade opportunity in Ramkrishna Forgings Limited, a leading manufacturer of automotive components in India, catering to both domestic and international markets.
Target - 860 // 945
Stoploss - daily close below 700
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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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- Testing Strong Resistance Zone: The price range of 750-770 has been tested multiple times and is currently attempting to breach it, indicating potential bullish momentum.
- Bullish Engulfing Patterns: Bullish engulfing candlestick patterns observed on both the weekly and daily timeframes signal strong buying momentum and potential upward movement.
- Trading at All-Time High: Ramkrishna Forgings is currently trading at its all-time high, indicating strong bullish sentiment and potential for further gains.
- Trading Above 50 and 200 EMA: The stock is trading above both the 50 and 200 Exponential Moving Averages (EMA) on the daily timeframe, confirming its bullish bias and potential for trend continuation.
- Volume Spike: A significant spike in trading volumes reflects increased market interest and potential accumulation by investors, adding confirmation to the bullish thesis for Ramkrishna Forgings.
Target - 860 // 945
Stoploss - daily close below 700
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
we are close to SLTrade closed: stop reached
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