Granules long opportunity for NSE:GRANULES by AKJ46

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Stock -> Granules
TimeFrame -> Weekly Hello all!

Granules has been forming a flag and pole pattern.

It finally broke out of the flag in the last week of September with heavy volumes and I believe this generates a good opportunity to go long!

There are multiple other factors that strengthen my conviction on going long

-The stock is taking support from its 50-week EMA

-Stock has support from both 50 and 200-day EMA

-Flag breakout occurred after a strong bounceback from the Fibonacci golden zone.

The Risk to Reward ratio is also decent.


Disclaimer: Markets have been behaving a bit jittery. Hence it’s advisable to trade with a smaller quantity than usual and maintain a strict stop loss.

#granules #nifty #technicalanalysis #swingtrading #ema #fibonacci #poleandflag #markets #trading #investing

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