TIRUMALCHM trade ideas
Thirumalai ChemicalsGood Breakout of Channel consolidation
we can expect 140-150 in comming days
Before taking any entry ask your financial advisor
Thirumalai Chemical - BullishThirumalai Chemical CMP - 115.05
Looking bullish in higher time frame. One can go for Intraday / Swing Trade setup with the following entry, exit & targets
Buy range 115 - 116 / Stop Loss - 110
Target 1 - 118
Target 2 - 120
Target 3 - 122
Swing Target - 130, 145 / Stop Loss 88
Disclaimer: This is my view and for educational purpose only.
Thirumalai Chemical, Ascending Triangle BreakoutReasons
1. Stock is above 200EMA
2. Ascending Triangle Breakout
3. High Volume
4.Relative Strength Index
5. Delivery Percentage 48.50%
Targets
1. 69.55 (70%)
2. 75 (30%)
Stop losses base on risk appetite
1. 55.10
2. 53.70
Returning for up move after consolidationDescending 1/2 anglehas been crossed for upward movement, which will be confirmed once it crosses 1446 on closing basis.
Thirumalai Chemicals - Elliott Wave - Huge correction in wave(4)Thirumalai Chemicals completed 5 minor waves up completing wave (3). Now correcting in wave (4). It might correct upto 1000 in a span of 12 to 15 months.
