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COROMANDEL INTERNTL. LTDCOROMANDEL INTERNTL. LTDCOROMANDEL INTERNTL. LTD

COROMANDEL INTERNTL. LTD

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COROMANDEL trade ideas

COROMANDEL INTL S/R Support and Resistance Levels: In technical analysis, support and resistance levels are significant price levels where buying or selling interest tends to be strong. They are identified based on previous price levels where the price has shown a tendency to reverse or find support. Support levels are represented by the green line and green shade, indicating areas where buying interest may emerge to prevent further price decline. Resistance levels are represented by the red line and red shade, indicating areas where selling pressure may arise to prevent further price increases. Traders often consider these levels as potential buying or selling opportunities. Breakouts: Breakouts occur when the price convincingly moves above a resistance level (red shade) or below a support level (green shade). A bullish breakout above resistance suggests the potential for further price increases, while a bearish breakout below support suggests the potential for further price declines. Traders pay attention to these breakout signals as they may indicate the start of a new trend or significant price movement. Disclosure: I am not SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. It is important to consult with a qualified financial advisor before making any investment decisions. Tweets neither advice nor endorsement.
NSE:COROMANDEL
by zenthosh
Coromandel International (NSE: COROMANDEL) ForecastWait for the weekly close Based on the daily chart for Coromandel International (NSE: COROMANDEL), here is the summary: Key Levels: - Breakout Level: Around 1287-1290 Current Price: - Current Price: 1287.85 Chart Analysis: 1. Ascending Triangle Pattern: The stock has formed an ascending triangle pattern, a bullish continuation pattern, which it has recently broken out of. 2. Breakout Confirmation: The breakout from the ascending triangle indicates a potential upward move. 3. Targets: - Short-Term Target 1: 1320 - Short-Term Target 2: 1380 - Long-Term Target 1: 1450 - Long-Term Target 2: 1700 Strategy: - Entry: The stock has already broken out of the ascending triangle. A potential entry point would be on a pullback to the breakout level (around 1287-1290) or on confirmation of sustained upward momentum. - Stop Loss: Consider placing a stop loss below the breakout level, around 1260, to manage risk. - Targets: - For short-term trades, consider taking profits at 1320 and 1380. - For long-term trades, the targets are 1450 and 1700. Conclusion: - The stock has shown a strong bullish breakout from the ascending triangle pattern. The breakout suggests a continuation of the upward trend, with short-term targets at 1320 and 1380, and longer-term targets at 1450 and 1700. Monitoring the price action around the breakout level is crucial for confirming the trend and making informed trading decisions.
NSE:COROMANDELLong
by The90sTraderOfficial
Coromandel International Ltd. (ticker: COROMANDEL) ForecastThe provided chart is a 4-hour candlestick chart for Coromandel International Ltd. (ticker: COROMANDEL) on the National Stock Exchange (NSE). Here’s a detailed analysis and summary of the chart: Timeframe and Data: - Timeframe: 4-hour - Data Range: From early January 2024 to late May 2024 Price Analysis: - Current Price: ₹1,246.25 - Price Movement: The stock has shown a mix of uptrend and consolidation phases within the given period. Technical Patterns and Indicators: - Double Top Formation: - The chart shows a clear double top pattern, indicating a potential bearish reversal. The double top is formed around the ₹1,280.00 level. - The two peaks marked by red arrows show the double top pattern within the resistance zone. - Support and Resistance Zones: - Resistance Zone: The area between ₹1,250.00 and ₹1,280.00 is highlighted as a resistance zone, where the price has faced selling pressure. - Support Zone: A significant support zone is marked around ₹1,120.00 to ₹1,040.00, which acted as a strong support level earlier in the year. - Trendlines: - An upward-sloping trendline can be seen connecting the higher lows from mid-March to May 2024. - Another trendline connecting the higher highs forms a rising wedge pattern, indicating a potential bearish breakout. - Sell Trigger and Target: - A sell trigger is indicated at the break below the minor support level around ₹1,230.00. - Target Price: The sell target (TP) is marked at ₹1,180.00, suggesting a bearish move towards this level after breaking the support. Key Levels: - Resistance Levels: - Immediate resistance at the double top region around ₹1,280.00. - Another resistance level within the resistance zone at ₹1,250.00. - Support Levels: - Immediate support at around ₹1,230.00, where a minor consolidation can be seen. - Further support at the major support zone around ₹1,120.00 to ₹1,040.00. Trade Setup: - Bearish Scenario: The double top formation suggests a potential bearish scenario. If the price breaks below the minor support level of ₹1,230.00 and the trendline support, a move towards the sell target at ₹1,180.00 is likely. - Bullish Scenario: For a bullish outlook, the price needs to break and sustain above the resistance zone at ₹1,280.00. This could invalidate the double top pattern and suggest further upside potential. Conclusion: The chart for Coromandel International Ltd. indicates a potential bearish scenario with the formation of a double top pattern around ₹1,280.00 and a rising wedge. A break below the immediate support level of ₹1,230.00 could trigger a move towards the sell target at ₹1,180.00. Traders should look for confirmed breakouts from key levels to make informed trading decisions. The resistance zone around ₹1,250.00 to ₹1,280.00 and the support levels at ₹1,230.00 and ₹1,120.00 to ₹1,040.00 are crucial levels to watch.
NSE:COROMANDELShort
by The90sTraderOfficial
TRIANGLE CORRECTION : ELLIOT WAVE ANALYSIS ( ELLIOTT BABA)TRIANGLE CORRECTION : ELLIOT WAVE ANALYSIS ( ELLIOTT BABA) A triangle is a sideways movement that is associated with decreasing volume and volatility. Guidelines Triangles have 5 sides, Corrective structure labelled as ABCDE Location : a- Usually happens in wave B or wave 4 b- Wave D in triangle itself c- If in second then 2 will be zigzag and this will happen in B of zigzag d- X wave of Double Three correction and XX wave of Tripple Three e- XX wave of Double Zigzag correction f- Wave D in triangle itself Subdivided into three (3-3-3-3-3) Subdivision of ABCDE can be either ABC, wxy, or flat
NSE:COROMANDEL
by Elliottbaba
Can $NSE:COROMANDEL will test 1170 Level ? As Per OI data and Technical Analysis NSE:COROMANDEL Coromandel International Ltd Looks Bearish if its break 1230-1227 level on closing basis. if its break this level then Probably we can see Potential Downtrend in this stock and it will test 1200,1180,1170 level on chart. and for upside this stock need to break 1265-1270 level, This message is for informational purposes only and should not be considered financial advice. It is crucial to conduct thorough research or consult with a financial advisor before making any investment decisions. We do not guarantee the accuracy or completeness of the information provided.
NSE:COROMANDELShort
by PrachiMetha
TRADE SETUP_ 10% upside for COROMANDELThis specialty chemical stock is seen in a beautiful Elliot wave structure since the Jan 2023 and has outperformed not only its peers but also major Indian Indices. The stock recently had a steep and swift decline in October. This very declined was in fact the wave iv of wave 3 and now the stock has kicked off in the Wave v of Wave 3 structure. It would be wise to wait for a small dip in the stock(towards 1070-1080) to make an entry and ride next wave up towards the 1215 zone. Note*- Please do own your own research and analysis before taking up any financial positions.
NSE:COROMANDELLong
by neeraj_2_sharma