SWING IDEA - SAPPHIRE FOODS INDIASapphire Foods , a leading player in food and beverage industry, emerges as a potential swing trade candidate.
Reasons are listed below :
Ascending triangle pattern breakout observed, suggesting potential bullish continuation.
Bullish engulfing candle on the weekly timeframe, engulfing the previous 13 weekly candles, indicating a strong bullish reversal.
Breakout signals the end of a consolidation phase lasting over 2 years, suggesting a release of pent-up buying pressure.
Trading near all-time high, reflecting robust bullish momentum and investor confidence.
50-period exponential moving average (EMA) on the weekly timeframe providing significant support, reinforcing bullish sentiment.
Target - 1780 // 2000
StopLoss - weekly close below 1350
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