SWING IDEA - JUBILANT INGREVIA LTDConsider a promising swing trade opportunity in Jubilant Ingrevia , a leading player in the specialty chemicals industry.
Reasons are listed below :
Breakout from Strong Resistance : Successfully breaking through the 500-520 resistance zone after multiple tests, indicating potential bullish momentum.
Bullish Marubozu Candle : Strong buying momentum signaled by a bullish Marubozu candlestick pattern on the daily timeframe.
Increased Volumes : Notable spike in trading volumes reflects growing market interest and potential accumulation by investors.
Breakout from Consolidation : Breaking out of a 7-month consolidation phase, signaling a shift in market sentiment and potential for sustained upward movement.
Higher High Formation : Consistently forming higher highs, indicating increasing bullish momentum and potential for further gains.
Trading Above 50 and 200 EMA : Trading above both the 50 and 200 Exponential Moving Averages (EMA) on the daily timeframe, confirming bullish bias and potential for trend continuation.
Target - 590 // 645
Stoploss - daily close below 490
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