Hello Friends,
BACK Again with a New Stock Idea
Today's Stock : ALUFLUORIDE LTD. (BSE)
As usual, it is Purely a Technical Analysis and All Possibilities of going wrong are open, Trade as per your Conviction or Study.
Let's Start with a Chart
This is a weekly chart of the Stock, where we find the chart has been moving in a rising channel and Broke the resistance line of the channel to move in higher levels above the channel. Recently the Stock has corrected and reached the Upper Line of the Channel. The Stock price is getting good support at this level and simultaneously creating a Bullish Flag Pattern.The Pattern indicates a Strong upmove in near term.
I Recommend the Stock to be Added in Portfolio for Good Returns.
RECOMMENDATION :
Buy Alufluoride Ltd in Price Range of 58 - 62 with a Stoploss around 52 and Targets of 110.
The Risk associated in this trade is approx Rs. 10/- per share from a Buying price of 62 and Rs. 6/- per share from a buy price of 58
The Reward in this trade is approx Rs. 45/- per share from the highest buying level and Rs. 49/- from the lower buying level.
The Risk : Reward is favorable and the Trade can be added with a 5% exposure in your Portfolio.
Disclaimer :
The Author is a Global Market Expert and SEBI Certifies Investment Adviser having experience of almost 10 years in stock markets. The Author may or May not have direst exposure in the stock, but the stock is definitely recommended to our clients for Investment in Our Equity Pro & Equity Plus trading packages. Do not Over trade and do not Jump in the trade without Consulting a Financial Advisor. Follow Proper Risk Management.
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