REDINGTON trade ideas
Redington #Redington 166.75 to 230 #INFY #TCS #WIPRO #NIITLTD #Q#REDINGTON
NSE:REDINGTON
NSE:REDINGTON
NSE:REDINGTON
REDINGTON CMP 166.75
TARGET 220+
SL 155
TF < 6 months
RR > 3
Return > 40%
Factors:
BULLISH WEDGE BREAKOUT
Trend Following
Rising Volume with rising Prices.
Flag pattern breakout.
Pennant Pattern Breakout with Bullish Candle.
Retest Successful.
Higher Highs & Higher Lows.
Broken above RESISTANCE levels
Trading at SUPPORT levels
Earnings are strong.
Bullish Wedge Breakout
Risk Return Ratio is healthy.
And
Rising from Double Bottom Pattern to Flag Pattern forming.
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With 💚 from Rachit Sethia
Looking great with sky volumes on DTF!#IMP POINTS
1.The stock has been in the consolidation from 176 days(6 months roughly).
2.Broke out exceptionally after the the good accumulation.
3.It is fundamentally sound stock with good quarter results is add on advantage.
4.It had broken up the triangle with strong volumes!
Note: Enter after breaking the yellow line with good volumes and can expect to move up '>10%' , decide the SL after breaking of yellow line.
Disclaimer: Holding the stock.
REDINGTON PRICE ACTION ANALYSIS 🎯30%+NSE:REDINGTON has a similar price action structure to BSE:RACLGEAR . Analysis done on chart showing that momentum may continue towards the upside.
Buy 30% of position now and enter rest after retrace.
Targets: 180/200/220
sl- below 136
Position size accordingly. HAPPY TRADING!
redingtonRedington is a leading distributor of technology & communication products and provider of services and solutions across various emerging markets. The company’s offerings include PC, Notebooks, Tablets, Printing Solutions, Servers, Storage, Software, Networking Solutions, Security Solutions, Smart Phones and Cloud.
Besides India and Turkey, its operations span across markets in South Asia, the Middle East and Africa. As a premier distributor for many global technology vendors, it leveraged a powerful network of thousands of channel partners.
Through two wholly-owned subsidiary companies, it also operates in the field of Third-party Logistics & Supply Chain Solutions and in the field of Repair and Maintenance of Technology Products & Infrastructure. These adjacencies allow the company to widen its coverage of technology distribution value chain.
Today, new-age technologies like Artificial Intelligence (AI), Robotics, Big Data and Analytics, Internet of Things (IoT), and 5G communications are opening new possibilities and new opportunities for tomorrow.
Business area of the company
The company is engaged in the business of distribution of information technology, mobility and other technology products besides supply chain solutions. The company has an operating branch in Singapore. The Company, its subsidiaries and associate operates in India, Middle East, Turkey, Africa, and South Asian countries.