SWELECT ENERGY SYS: READY TO RESUME UP MOVE.

3 Jun

SWELECTES

- Business Segments The company operates in solar energy systems or services, foundry, and other areas.
- Products: Swelect offers solar PV modules, inverters, water pumps, servo stabilizers, and iron and steel.
- Services: They provide energy conservation, audits, site feasibility analysis, EPC contracts, and operation and maintenance services.
- Headquarters: The company is headquartered in Chennai, India. 🌞🔌

Technical Outlook:-

From mid-April, this stock has been in a retracement phase for the major up trend and now looks like it's trading at the confluence of the support zone which can push the price again in the original direction.
The channel support line.
The 50 EMA retest Zone.
0.5 retrace of previous up swing.

Entry :- 1 hour candle close above 1270 will be a good confirmation.

Stop:- A falling wedge is in the formation of in case of uncertainty and any adverse move we will close it if a day candle closes below the Red line on the chart.

Targets: have been marked on the chart with the forecast of fib price projection tool.

Always use position sizing to manage your trade size with proper stop loss levels.

Keep Learning,
Happy Trading.