SWING IDEA - SCHAEFFLER INDIA

١٦ يونيو
Schaeffler India, a leading automotive and industrial supplier, is displaying technical signals that suggest a promising swing trading opportunity.

Reasons are listed below :

• Break of 4000 Resistance Zone: The 4000 level was a significant resistance zone. The price has broken through this level, retested it, and is now making new higher highs, indicating strong bullish momentum.
  
• Bullish Engulfing Candle on Weekly Timeframe: The recent formation of a bullish engulfing candle on the weekly chart suggests strong buying pressure and potential for further upward movement.
  
• 0.5 Fibonacci Support: The stock is finding support at the 0.5 Fibonacci retracement level, a key area where prices often bounce back, indicating potential for an upward move.
  
• Trading Above 50 and 200 EMA: The stock is trading above both the 50-week and 200-week exponential moving averages (EMA), reinforcing the bullish sentiment and providing strong support levels.
  
• Trading at All-Time High: The stock is trading at its all-time high, suggesting strong market confidence and potential for further gains.
  
• Constant Higher Highs: The stock has been consistently making higher highs, indicating a strong uptrend and sustained bullish sentiment.
  

Target - 5550 // 6150
Stoploss - weekly close below 4100

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@visionary.growth.insights

١٥ يوليو

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