SWING IDEA - RATNAMANI MET AND TUB
Ratnamani Metals & Tubes, a leading manufacturer of stainless steel and carbon steel welded pipes and tubes, is showing a potential swing trade setup with several bullish technical signals.
Reasons are listed below :
Target - 4270 // 4800
Stoploss - daily close below 3400
DISCLAIMER -
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
Reasons are listed below :
- 3800 Zone Break Out: The 3800 level has acted as a strong resistance zone. The price is now breaking through this level, signaling the possibility of a continued upward move.
- Bullish Engulfing Candle on Daily Timeframe: A bullish engulfing candle indicates strong buying interest, suggesting momentum may continue.
- Trading Above 50 and 200 EMA: The stock is trading above both the 50 and 200 exponential moving averages, indicating overall bullish strength and long-term trend support.
- Intact Trend: The broader trend remains intact, indicating that the current momentum is in line with the stock’s longer-term trajectory.
- Gradual Increase in Volumes: A steady rise in volumes adds confirmation to the breakout, showing strong market participation in this move.
Target - 4270 // 4800
Stoploss - daily close below 3400
DISCLAIMER -
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
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