Lumax Industries Breakout & RetestThe idea here is about Lumax Industries:
The Company offers a range of complete automobile lighting systems and solutions, which includes head lamps and tail lamps, sundry and auxiliary lamps and other related products and accessories for four wheeler, two wheeler, trucks, buses, earth-movers, tractors and a range of applications.
Mentioned below are the points to be considered
Points as per TA on a Weekly Chart:
1. Shark Pattern Completed, Target 1 achieved momentum towards target 2.
2. Broken out & retested Symmetrical Triangle as per chart.
4. Crossover of 20 EMA & 200 EMA on weekly chart.
4. Kumo Twist & Breakout on a weekly chart is Strong buy with an upward momentum.
5. RSI is at 70.87 on a weekly Chart at the time of publishing.
6. MACD way above signal line on weekly chart.
7. Hull Moving Average is on day is sell, Weekly is buy & monthly is sell coming week will decide on the direction of momentum.
8. Keep a watch on price alert.
Projected targets as per Shark Pattern provided in the chart.
Disclaimer: “The above is an Educational idea only and not any kind of financial or investment advice. So please do your own DD (Due Diligence) before any kind of investment”.
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