SWING IDEA - INDIGO PAINTS

6 dni temu

Indigo Paints, known for its innovative product offerings in the Indian paint industry, is displaying promising technical indicators for a swing trade.

Reason are listed below :

• 1600-1650 Resistance Zone: This significant resistance level, tested multiple times, is now possibly ready for a breakout, suggesting upward momentum.
  
• Bullish Engulfing Candle on Weekly Timeframe: The strong bullish candle reinforces buyer interest and strength.
  
• Breaking 2.5+ Years of Consolidation: The stock is moving out of a prolonged consolidation phase, hinting at a potential long-term trend change.
  
• Trading Above 50 and 100 EMA on Weekly Timeframe: This indicates sustained bullish strength, with price action above critical moving averages.
  

Target - 1950 // 2250
Stoploss - weekly close below 1400

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@visionary.growth.insights

5 godzin temu

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hold!