GRANULES trade ideas
Granules - 4 Hourly ChartThe stock is currently trading within a Bullish BAT and a Bullish Butterfly Pattern. Excellent confluence levels of both the patterns in marked PRZ. Awaiting for price to come within the zone and then on basis of price action, we can get a lovely long trade.
Granules - Ascending triangle in playScrip has been in ascending triangle pattern validated with 2 reactions lows and highs over time duration of around 2 months
If bullish momentum is maintained and the pattern doesnt get falsified as earlier seen for falling wedge, Breakout with higher volume surge can be seen to reach the target price and one can aim first for short term towards 52-week high (157) :)
Also, If quick downtrend towards oversold is seen, Scrip might take corrections like seen earlier so one can wait further for pullback/breakout/confirmation
Resistance (neckline) can be taken as support thereon after breakout
Rest in charts..
However, Few cons which can restrain the investors from coming in ..
www.screener.in
Cons:
- Company might be capitalizing the interest cost
- Negative cash flow
- Debt increased over period
Granules India emerges above the trendlineAt Rs 134, this scrip has broken its trendline upwards with good volumes today.
20D EMA has also crossed 50D EMA signifying bullish path more to go.
Resistance is at Rs 180~187 or so.
Buy and book profits on every rise at Rs 150, 165, 180~187 and keep some in your portfolio.
Stoploss maybe kept at Rs 121.
