SUDARSCHEM trade ideas
SUDARSHANCHEMICAL Daily Bullish Alt Bat
VERTICAL DOTTED LINE is Ultra high volume down bar
Higher volume-Professionals are buying into the public selling
If this Bearish move is True we need to get INCREASING VOLUME on every down bar ,but here there is DECREASING VOLUME with NARROW SPREADS
Within 3-5 price bars need the confirmation from a Bullish CANDLE with RSI ABOVE 30
POTENTIAL BUY
SUDARSHAN CHEMICALS :: BULLISHDATE: 18 MAY 2021
INSTRUMENT: SUDARSCHEM
TREND: BUY
TIME FRAME: day
CMP: 667.85
BUY ABOVE: 677
STOP LOSS: 655
TGT 01: 700
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Hidden Gem for investment - Sudarshan ChemicalSudarshan chemical is forming extremely bullish patterns.
below are the reasons which corroborate my hypothesis
a)The multi-year trendline is at 500 levels.
b) Cup & Handle pattern is on progress right now
c) Bullish hidden divergences can be seen
d) Weekly price closing above 505 will bring STRONG momentum on the stock
My target for this stock is in 4 figures.