SWING IDEA - ANUPAM RASAYAN INDIAConsider a promising swing trade opportunity in Anupam Rasayan India , a leading specialty chemicals manufacturer.
Reasons are listed below :
Strong Support Zone at 800-850 : Anupam Rasayan India has a strong support zone established at 800-850, indicating significant buying interest and potential reversal points.
Hammer Candle on Weekly Timeframe : The presence of a hammer candlestick pattern on the weekly timeframe suggests potential bullish reversal and buying interest at lower levels.
0.618 Fibonacci Support : Finding support at the 0.618 Fibonacci level strengthens the bullish case, providing a solid foundation for potential upward movement.
Bullish Engulfing Candle on Daily Timeframe : A bullish engulfing candlestick pattern observed on the daily timeframe indicates strong buying momentum and potential upward movement.
Strong Volumes : The significant increase in trading volumes reflects growing market interest and potential accumulation by investors, adding confirmation to the bullish thesis for Anupam Rasayan India.
Target - 970 // 1080 // 1220
StopLoss - weekly close below 782
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