ASALCBR potential breakout - Strong prior uptrend.
- Trading in a narrow range.
- Mini coil formation.
- Low risk entry point.
- Took support from 9EMA.
- Volume contraction.
- Strong sector.
ASALCBR trade ideas
Expected continuation diamond pattern formationA continuation diamond pattern, also known as a diamond bottom or bullish diamond, is a technical analysis chart pattern that usually occurs during an uptrend and signifies a temporary pause or consolidation before the price resumes its upward movement. It's considered a continuation pattern because it typically results in the continuation of the existing bullish trend.
PLEASE NOTE THAT:
This chart analysis is only for reference purpose.
This is not buying or selling recommendations.
I am not SEBI registered.
Please consult your financial advisor before taking any trade
Associated Alcohols is in high spiritsAssociated Alcohols & Breweries Ltd. is in the business of manufacturing and trading of ENA (Extra Neutral Alcohol), Indian Made Indian Liquor (IMIL), Indian Made Foreign Liquor (IMFL) & Hand Sanitizer. Associated Alcohols & Breweries CMP is 408.40. Negative aspects of the company are declining annual net profits and FIIs are decreasing stake. Positive aspects of the company are low debt, improving cash from operations annual and zero promoter pledge. Entry after closing above 414. Targets in the stock will be 435 and 463. Long term target in the stock will be 486 and 500+. Stop loss in the stock should be maintained at closing below 387.
ASALCARB It has given a good breakout with high volumes, a good entry can be taken.
DISCLIMER: Its not a call before investing take an advice from your financial adviser.
Breakout sessionsStock has already RETESTING SUPPORT multiple times, now wait for line to break for confirmation as stock overall looking good in upcoming events
Associate alcohol and breweries ltd Reverse head & Shoulder 1 HrAssociate alcohol and breweries ltd 1 Hr Time Frame.
Note:- technical analysis of Chart Patten
Reversal Pattern Head & Shoulder
#ASALCBR #AssocAlcoForming upward wedge, could see a blockbuster move once it crosses the upper trendline. I am holding from 310 levels and will add more once it crosses the upper trendline.
Associated Alcohol and Breweries Ltd BREAKOUTAssociated Alcohol and Breweries Ltd
BREAKOUT OF ASCENDING TRIANGLE PATTERN
&
STRONG MONTHLY , WEEKLY & DAILY RT
@281
Associated Alcohols and Breweries Ltd produces foreign brands like Vat69, Black & White, Black Dog, Captain Morgan and Smirnoff etc under franchise arrangements, brands like Bagpiper Whisky, MC Dowell No. 1 Celebration Rum, White Mischief Vodka, Blue Riband Gin, and Director Special Black under license agreements.
Associated Alco & Breweries [Swing Long]Liquor sales volumes are expected to be affected by up to 5% in this quarter due to ongoing elections, sales will be hit in April-June this year. Be aware and manage your risk.
Premise:
Testing demand order-block that has previously been tested 5-6 times and has held well.
Setup:
Target - 283
Stop - 219
Potential - 23%
R - 4.82
