DAAWAT - L T Foods: Strong PC BO with the strong retracement
All the three Parallel Channels (PC) are one and the same!
PC-A = PC-B = PC-C
The strength of PC-C is crossing the highs of Apr-22 levels for the breakout
and strongly retraced the BO at 105 levels.
The huge buying levels at in Apr 22 at BO of PC-B and at BO of PC-C are confirming the strength in the BOs.
What I feel is, the overall market trend in Apr-22 had impacted the Breakout of PC-B also, and lead it for the resistance of 100 which was also the midline of PC-A
The bearish view resulted in Breakdown of PC-B and lead to levels of 67, which is also the lower line of PC-C
Yesterday's strong green candle with heavy buying volumes confirms the strong BO of PC-C
For swing trade
Entry: Coming opening levels above 105
1st target is 130, then 150
SL:
The FAs and business model is strong, script is good pick for long term portfolio building.
If view didn't go well, the levels of 85-90 are good levels to add.
PC-A = PC-B = PC-C
The strength of PC-C is crossing the highs of Apr-22 levels for the breakout
and strongly retraced the BO at 105 levels.
The huge buying levels at in Apr 22 at BO of PC-B and at BO of PC-C are confirming the strength in the BOs.
What I feel is, the overall market trend in Apr-22 had impacted the Breakout of PC-B also, and lead it for the resistance of 100 which was also the midline of PC-A
The bearish view resulted in Breakdown of PC-B and lead to levels of 67, which is also the lower line of PC-C
Yesterday's strong green candle with heavy buying volumes confirms the strong BO of PC-C
For swing trade
Entry: Coming opening levels above 105
1st target is 130, then 150
SL:
The FAs and business model is strong, script is good pick for long term portfolio building.
If view didn't go well, the levels of 85-90 are good levels to add.