TRIDENT trade ideas
Trident - Need some indicators :/🎯 The chart is self-explanatory as always.
🎯 The price is back in the range after a quick upmove
🎯 The game zone is an acting support with 100 WEMA guarding it.
🎯 A break of the game zone may bring back the price to the next support zone
🎯 Or, We may see some sideways momentum until the range breaks on the upside
⚠️Disclaimer: We are not registered advisors. The views expressed here are merely personal opinions. Irrespective of the language used, Nothing mentioned here should be considered as advice or recommendation. Please consult with your financial advisors before making any investment decisions. Like everybody else, we too can be wrong at times.
TRIDENT IN BUYSorry due to some personal reasons i hold Forex for next 2months...
Now we see in TRIDENT LTD stock
Now price In Daily Flip zone
Also daily flip zone is 4H strong buy zone from SMC
and also it's pattern retracement
My analysis in technical is it will reach 52.9 and all time high too
Here is the entry
38.3-37
TRG 40/42/46/49/52.9/58/63/70
6months-1year hold
NOTES:EDUCATIONAL PURPOSE ONLY
Potential Trade analysis for Trident for Target 🎯 of 2 times ..Potential targets for Trident Ltd.:
### Entry Point (Buy):
- **Buy Price**: Considering the support at INR 39.50 and the rebound witnessed at this level, you might consider entering near this price, provided the stock shows signs of stability or upward momentum. Wait for a confirmation of reversal, like a bullish candlestick pattern or increased volume on up days.
### Stop Loss (SL):
- **Stop Loss**: Setting a stop loss slightly below the recent support level at INR 34.45 can help mitigate the risk. A reasonable stop loss could be around INR 33.50, providing enough buffer to account for usual market fluctuations without exiting the position too early on minor dips.
### Price Targets:
1. **First Target (T1)**: The first target could be set near the previous resistance level, around INR 50.00, which has acted as a barrier in the recent past.
2. **Second Target (T2)**: If the momentum continues and the stock breaks past INR 50.00, the next target could be around the INR 59.25 to INR 70.20 range, where the stock has previously encountered resistance.
### Trade Rationale:
- **Entry**: The rationale for entry near INR 39.50 is due to its historical support, where the stock has rebounded previously, indicating buying interest.
- **Stop Loss**: The stop loss at INR 33.50 provides a safeguard against potential downward trends and is below a significant support level to account for volatility.
- **Targets**: The targets are based on historical resistance points where the stock has faced selling pressure, making them logical points to take profits.
These trade levels are suggestive and depend on continuous monitoring of the stock’s performance and overall market conditions. Adjustments may be necessary based on new data and market movements.
TRIDENTTrident has been on a downtrend for since the beginning of Jan 2024 after a bullish run during the first week of 2024.
Price is returning to the previous consolidation range of December, 2023.
Price will likely to range bound within the Monthly Fvg gap, then tap into Daily OB right below the monthly FVG.
Tgt: Previous ATH.
Trident - Go LongTrident Share in the last 2 months has been on a downward trajectory and looks all set to break the same. The accumulation phase looks like it has been completed. Expecting to touch the 39 and 43 levels in short term
Fundamental
Incorporated in 1990, Trident Ltd manufactures, trades, and sells Yarn, Terry Towels & Bed sheets, and Paper & Chemicals
Company has been maintaining a healthy dividend payout of 41.3%
Debtor days have improved from 26.5 to 15.9 days.
Company's working capital requirements have reduced from 72.6 days to 45.7 days
The company has delivered a poor sales growth of 6.79% over past five years.
Company might be capitalizing the interest cost
Since Last 1 year there has been slight increase in FII shareholding
Trident - An Opportunity to BuyAs per previous chart history and technical analysis along with Fundamental inputs of the stock, it indicates that you can buy or hold your stock for profit in short term as per chart analysis.
Wait for reversal for better entry or Buy above 46 and hold for big profit.
If broken downward, a big bearish trend is seen on the downside chart
All major points & downward levels mentioned on chart
Do your own research because I am not SEBI registered person and this is my personal opinion about this stock
Thanks for your support as always