AKZOINDIA CMP 3700.After hunting all stoploss Bouncing back from a major support.We can cosidor this for a swing trade,3600 to 3800 is a consolidation zone if sustain above 3800 then we can see a strong morubozzu candle.And possible 4000........4100.........4200.......+ Levels.On daily chart Volume is very strong.Add to your wachlist. And find your best Risk Reward before Entry.See how it perform in coming days.Thanks for support.
AKZOINDIA trade ideas
AKZO NOBEL INDIA LTD S/R Support and Resistance Levels:
Support Levels: These are price points (green line/shade) where a downward trend may be halted due to a concentration of buying interest. Imagine them as a safety net where buyers step in, preventing further decline.
Resistance Levels: Conversely, resistance levels (red line/shade) are where upward trends might stall due to increased selling interest. They act like a ceiling where sellers come in to push prices down.
Breakouts:
Bullish Breakout: When the price moves above resistance, it often indicates strong buying interest and the potential for a continued uptrend. Traders may view this as a signal to buy or hold.
Bearish Breakout: When the price falls below support, it can signal strong selling interest and the potential for a continued downtrend. Traders might see this as a cue to sell or avoid buying.
MA Ribbon (EMA 20, EMA 50, EMA 100, EMA 200) :
Above EMA: If the stock price is above the EMA, it suggests a potential uptrend or bullish momentum.
Below EMA: If the stock price is below the EMA, it indicates a potential downtrend or bearish momentum.
Trendline: A trendline is a straight line drawn on a chart to represent the general direction of a data point set.
Uptrend Line: Drawn by connecting the lows in an upward trend. Indicates that the price is moving higher over time. Acts as a support level, where prices tend to bounce upward.
Downtrend Line: Drawn by connecting the highs in a downward trend. Indicates that the price is moving lower over time. It acts as a resistance level, where prices tend to drop.
Disclaimer:
I am not a SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. Consider the broader market context and consult with a qualified financial advisor before making investment decisions.
Parallel Channel BreakoutPlease look into the chart for a detailed understanding.
Consider these for short-term & swing trades with 2% profit.
For BTST trades consider booking
target for 1% - 2%
For long-term trades look out for resistance drawn above closing.
Please consider these ideas for educational purpose
Akzoindia for solid returnsThe stock has been trading in a range since the start of this year .
Currently stock is trading near trendline resistance, though it also created good support around 2280 levels.
Stucture of the stock is good on the higher timeframes, hance if it sustains 2280 levels, it could move towards the range upper end i.e 2500 levels and also beyond it up till 2780 levels.
Buy low?Price is resting at a very key monthly level.
Previous push was from this same level.
Strong fundamentals.
On lower time frames (W/D) price is consolidating, may from a strong base and continue up
In such cases stops are going to be very tight as price is ranging.
I already have a position and it is drawdown
#riskybet
tracking the reaccumulation- AKZO NOBELphase c complete, in phase d, showing major sign of strength at the back of ongoing buyback
should cool down to form the last point of support post JAK …
using weiss waves, give a better picture regarding, lack of supply post shakeout in phase b
last 5 years and 8 quarters, growth is very lukewarm in this scrip…
the scrip has gained momentum on buy back news since early this year,
gained leadership compared to sensex only recently…
a comparison with kansai nerolac (which is also in the process of base formation i believe)
akzo has been historically much weaker…
ideally, nerolac is a better choice looking back…
but somehow i like the base formation better here, may be due to lack of experience in handling bases like kansai
DISCLAIMER... NOT AN INVESTING/TRADING RECOMMENDATION