SHEELA FOAM LTDLong
SWING IDEA - SHEELA FOAM
Updated
Sheela Foam, a key player in the Indian mattress and foam market, presents a potential swing trading setup.
Reasons are listed below :
Target - 1060 // 1290
Stoploss - weekly close below 780
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 :
- 800-850 Support Zone: This strong support level is holding, indicating possible resistance to further downside.
- Bullish Hammer Candle on Weekly Timeframe: This pattern suggests a reversal of bearish momentum and renewed buying interest.
- Gradual Rise in Volumes: Increasing volumes support the potential for a sustained upward move, reflecting growing investor interest.
Target - 1060 // 1290
Stoploss - weekly close below 780
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 active
you can add up some quantityNote
we can see a evening star being formed at crucial support zoneNote
Price bounced back from support zone without closing below our Stoploss, HOLD!Note
We are again above our buying priceNote
made a high of 10%++
Disclaimer
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