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Coromandel International (NSE: COROMANDEL) ForecastWait for the weekly close Based on the daily chart for Coromandel International (NSE: COROMANDEL), here is the summary: Key Levels: - Breakout Level: Around 1287-1290 Current Price: - Current Price: 1287.85 Chart Analysis: 1. Ascending Triangle Pattern: The stock has formed an ascending triangle pattern, a bullish continuation pattern, which it has recently broken out of. 2. Breakout Confirmation: The breakout from the ascending triangle indicates a potential upward move. 3. Targets: - Short-Term Target 1: 1320 - Short-Term Target 2: 1380 - Long-Term Target 1: 1450 - Long-Term Target 2: 1700 Strategy: - Entry: The stock has already broken out of the ascending triangle. A potential entry point would be on a pullback to the breakout level (around 1287-1290) or on confirmation of sustained upward momentum. - Stop Loss: Consider placing a stop loss below the breakout level, around 1260, to manage risk. - Targets: - For short-term trades, consider taking profits at 1320 and 1380. - For long-term trades, the targets are 1450 and 1700. Conclusion: - The stock has shown a strong bullish breakout from the ascending triangle pattern. The breakout suggests a continuation of the upward trend, with short-term targets at 1320 and 1380, and longer-term targets at 1450 and 1700. Monitoring the price action around the breakout level is crucial for confirming the trend and making informed trading decisions.
NSE:COROMANDELLong
by The90sTraderOfficial