SEARL trade ideas
SEARLE LONG TRADESEARLE has been in downtrend since Dec 25, it has recently take support from a strong Breaker Block and also crossed over a bearish Breaker Block which is a sign of strength.
The downward Bear Channel is actually a Bull Flag as per Price Action Principles of Al Brooks the Father of Price Action.
Price went below this channel in shape of Selling Climax to dry out all Supply at those lower levels, this process has shifted the possession of Searle from Weak Hands to Strong Hands (Big Institutions). thus creating a Supply Vacuum.
Price has only logical direction to go and that's upwards.
BUY SEARLE 78-84
TP1 95
TP2 105
TP3 120
SL 70
SEARL LOOKS BEARISH LONGTERMSEARL LOOKS BEARISH LONGTERM (5-10 years from now)
SEARL has a very long leg from start to the top of 300 value. This long leg makes it vulnerable in current scenario for long term upward progress. After top it has been on decline reaching to ~35.
However the bounce back does not look impulsive instead it has corrective nature.
In my analytical view I can not rule out a impulsive downward movement until and unless crosses above 750.
Currently, it must cross and sustain above 180 to show some indication of long-term upward progress.
Nearest levels of upward rejection can occur at 100 (did not happen), 130 (happened) and lastly 180.
130 rejection can be considered as upward rejection if it moves down below 75. Otherwise it can test 180 value.
If it sustains above 180 then the rejection values are 300, 550 and 740.
Any sustained upward move above 750 will confirm the long-term targets of 1900, 6000, 11000 and 22650.
The impact of rejection from upside is displayed by arrows showing two scenarios of rejection to downside and their possible targets.
GOOD LUCK
DISCLAIMER:
The information provided doesn't guarantee results. ๐๐ง๐๐๐๐ฃ๐ ๐๐ฃ ๐๐๐ฃ๐๐ฃ๐๐๐๐ก ๐ข๐๐ง๐ ๐๐ฉ๐จ ๐๐๐ง๐ง๐๐๐จ ๐ง๐๐จ๐ ๐จ. Individuals should perform a thorough analysis and consider their risk tolerance before making investment decisions. ๐ ๐๐ข ๐ฃ๐ค๐ฉ ๐ง๐๐จ๐ฅ๐ค๐ฃ๐จ๐๐๐ก๐ ๐๐ค๐ง ๐๐๐ฃ๐๐ฃ๐๐๐๐ก ๐ก๐ค๐จ๐จ๐๐จ ๐ง๐๐จ๐ช๐ก๐ฉ๐๐ฃ๐ ๐๐ง๐ค๐ข ๐๐๐ฉ๐๐ค๐ฃ๐จ ๐๐๐จ๐๐ ๐ค๐ฃ ๐ฉ๐๐๐จ ๐ฅ๐ค๐จ๐ฉ. Consult with a qualified financial advisor before entering to trade in stocks.
SEARL Long positionMonthly breakout confirmed
Short term TP Rs 100
Long term TP Rs 125+ and than trade with trailing stop loss.
Fundamentally, last quarter massive write-off done so in upcoming quarters we will see good profits
Impact of non-essential essentail products pricing will also improve profitability