SWING IDEA - BOMBAY BURMAH TRADING CORPBombay Burmah Trading Corporation , a diversified company with interests in tea, coffee, and other sectors, is showing technical signals that suggest a promising swing trading opportunity.
Reasons are listed below :
1850 Resistance Breakout : The 1850 level has been a significant resistance zone, tested multiple times. The price has finally broken through this level and closed at a new all-time high, indicating strong bullish momentum.
Bullish Marubozu Candle on Weekly Timeframe : The recent formation of a bullish marubozu candle on the weekly chart indicates strong buying pressure and suggests potential for further upward movement.
Trading Above 50 and 200 EMA : The stock is trading above both the 50-day and 200-day exponential moving averages (EMA), reinforcing the bullish sentiment and providing strong support levels.
Sudden Spike in Volumes : A noticeable increase in trading volumes confirms the strength of the price move and indicates growing investor interest.
Trading at All-Time High : The stock is trading at its all-time high, suggesting strong market confidence and potential for further gains.
Target - 2600 // 3000
Stoploss - weekly close below 1690
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