Uno Minda was consolidating between the 1180-800 price range for past 1.2 years,under a daily time frame.
This is a very good price consolidation with respect to time.
With the recent expectation that the Goverment might slash the GST rate slabs for Automobile Industry, this auto parts maker stock has given a breakout of the rounding bottom consolidation, with an inside upflag break out confirmation too.
Though the breakout has happened with gap up, it is a better candidate for going long, considering the recent surge in volumes with RSI and MACD providing double confirmation.
3 Criteria to consider:
1. Rounding bottrom Breakout
2. Inside upflag breakout
3. News that GST rate migh be slashed for auto industry.
Hence it is better to consider under below levels:
1. Jump in - Daily close >1260
2. Stop Loss - Daily close <1060
3. Target 1 - 1357-1360 range
4. Target 2 - 1548-1550 range.(Takes time, with retest to rounding base and pull back).
The ideas shared here are purely for educational purpose only.
This is a very good price consolidation with respect to time.
With the recent expectation that the Goverment might slash the GST rate slabs for Automobile Industry, this auto parts maker stock has given a breakout of the rounding bottom consolidation, with an inside upflag break out confirmation too.
Though the breakout has happened with gap up, it is a better candidate for going long, considering the recent surge in volumes with RSI and MACD providing double confirmation.
3 Criteria to consider:
1. Rounding bottrom Breakout
2. Inside upflag breakout
3. News that GST rate migh be slashed for auto industry.
Hence it is better to consider under below levels:
1. Jump in - Daily close >1260
2. Stop Loss - Daily close <1060
3. Target 1 - 1357-1360 range
4. Target 2 - 1548-1550 range.(Takes time, with retest to rounding base and pull back).
The ideas shared here are purely for educational purpose only.
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Отказ от ответственности
Все виды контента, которые вы можете увидеть на TradingView, не являются финансовыми, инвестиционными, торговыми или любыми другими рекомендациями. Мы не предоставляем советы по покупке и продаже активов. Подробнее — в Условиях использования TradingView.