SWING IDEA - RATNAMANI MET AND TUBRatnamani Metals & Tubes, a leading manufacturer of stainless steel and carbon steel welded pipes and tubes, is showing a potential swing trade setup with several bullish technical signals.
Reasons are listed below :
3800 Zone Break Out : The 3800 level has acted as a strong resistance zone. The price is now breaking through this level, signaling the possibility of a continued upward move.
Bullish Engulfing Candle on Daily Timeframe : A bullish engulfing candle indicates strong buying interest, suggesting momentum may continue.
Trading Above 50 and 200 EMA : The stock is trading above both the 50 and 200 exponential moving averages, indicating overall bullish strength and long-term trend support.
Intact Trend : The broader trend remains intact, indicating that the current momentum is in line with the stock’s longer-term trajectory.
Gradual Increase in Volumes : A steady rise in volumes adds confirmation to the breakout, showing strong market participation in this move.
Target - 4270 // 4800
Stoploss - daily close below 3400
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