ALOK INDUSTRIES -- MULTIYEAR BREAKOUT

ALOK INDUSTRIES this co is largest fully integrated textile co in cotton and polyester segment, recently cotton price has seen big positive move constantly last few month. co posted good result YOY, good revenue and profit margin seen increase, fundamentals of co is seen improve.

Multiyear Breakout seen in weekly chart ..last few trading session volume seen increase ..Strong bullish technical indicators currently stock has big potential upside. stock was consolidating around 22 to 32 level last few months this consolidation has breakout with huge volume and this uptrend will be continue from this level.

Technical Indicators.
>> Mulitiyear trendline and triangle breakout
>> RSI 64 in daily chart Strong bullish
>> MACD above center and signal line
>> stock trading above 20,50,100,200 SMA

BUY ALOK INDUSTRIES @ 31.55

TARGET 1- 35-38 ( short term - 1 month)
TARGET 2 -45 48-52 ( mid term- 6 month)

stop loss 22

** PLEASE DO OWN ANALYSIS ..this idea For Educational .. call at own risk

HAPPY TRADING. !!

Komentarz:

bad day for market ever.. BUY on SIP method .next 1 month crucial for market event of lelection in 5 states Including UP possibilites ruling BJP may out of power, budget, fed policy ell event imp in next 1 month. ..SIP method buying with small qty and aggressive buying should be avoided.. !

Komentarz:

Buy alok IND. from this level with small qty ..27.50 is breakout level so add at if fall around 27.50

Komentarz:

bounce back from 27.50 today's low.. noW 5% UP. above 30

Komentarz:

above 30 intraday buy order !