SWING IDEA - INDIGO PAINTSIndigo Paints , known for its innovative product offerings in the Indian paint industry, is displaying promising technical indicators for a swing trade.
Reason are listed below :
1600-1650 Resistance Zone : This significant resistance level, tested multiple times, is now possibly ready for a breakout, suggesting upward momentum.
Bullish Engulfing Candle on Weekly Timeframe : The strong bullish candle reinforces buyer interest and strength.
Breaking 2.5+ Years of Consolidation : The stock is moving out of a prolonged consolidation phase, hinting at a potential long-term trend change.
Trading Above 50 and 100 EMA on Weekly Timeframe : This indicates sustained bullish strength, with price action above critical moving averages.
Target - 1950 // 2250
Stoploss - weekly close below 1400
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