GRINDWELL NORTON This stock breakout triangle pattern
and retest of this ATH resistance level
TGT will be 3571 SL 2300
This analysis for educational purpose only
Grindwellnorton
GRINDWELL NORTON NSE:GRINDWELL
this stock gives brake out on daily chart .
its looks good to enter in this stock
Buy rate 2370
SL 2220
Target 3500+
SWING IDEA - GRINDWELL NORTONGrindwell Norton invites attention as it positions itself for a potential breakout. This exploration delves into the compelling factors shaping a promising swing trading opportunity.
Reasons are listed below :
Grindwell Norton has undergone rigorous testing at the 2320 levels, displaying resilience and now gearing up for a potential breakthrough.
A bullish ascending triangle pattern is unfolding, suggesting an imminent breakout as the stock converges towards higher levels.
The weekly timeframe reveals a powerful bullish signal in the form of an engulfing candle, hinting at a shift in market sentiment and the potential for upward momentum.
Witnessing a consistent pattern of higher highs, Grindwell Norton exemplifies a robust upward trajectory, reinforcing confidence in the prevailing bullish trend.
Trading above both the 50-day and 200-day Exponential Moving Averages (EMAs) on the weekly chart, the stock exhibits strength and stability, enhancing the overall technical outlook.
A notable increase in volume activity aligns with recent price movements, adding weight to the potential breakout scenario.
Target - 2635 // 2864
Stoploss - weekly close below 2200
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@visionary.growth.insights
Grindwell Looking for a Grand Breakout.Grindwell Norton Company has two types of business, Abrasives Business and Ceramics Business. In Abrasives business they manufacture a full range of bonded abrasives, coated abrasives (including non-woven Abrasives) and Super abrasives. In Ceramics business they manufacture refractory systems for high temperature, ballistics and wear application. CMP of the stock is 1878.40. Negatives of the company are high valuation (P.E. = 59) and MFs decreasing stake. Positives of the company are no debt, zero promoter pledge, improving annual net profit, improving quarterly net profit and FIIs are increasing stake. Entry in the stock can be taken after closing above 1900. Targets for will be 1960 and 2023. Long term target in the stock will be 2152 and 2189. Stop Loss in the stock can be kept at a closing below 1723 closing.
Grindwell Norton may go North (Positive)Grindwell Norton Ltd. is a company involved in business related to Industrial Abrasives, adhesives, High performance ceramics and plastics, exterior architectural products and products related to cyber security and infrastructure. For abrasives in the industry the company has a cult status. CMP of the company is 1936.15. Negative aspects of the company are that they have high valuation (P.E = 62.7). At the same time positives aspect of the company are that FIIs and MFs are increasing stake. Debt on the company is very low and there is Zero promoter pledge. Book value of the share and annual net profit of the company is improving. Entry in the stock can be taken after closing above 1953. The target will be 2042. Closing above 2042 can open the doors for 2113 and 2192. Stop Loss should be maintained at a closing below 1780.
