SUNDARMHLD - Bullish Outlook
Surf the wave of upside potential with a Bullish Harami pattern spotted on the hourly chart. Don't miss the ride!
RI
by RA ALOK DAIYA SEBI Reg. INH000011468
Report as on 11-Sept 2024
Company Overview: SUNDARMHLD
Industrial Manufacturing
SUNDARMHLD is a prominent player in the Indian industrial manufacturing sector, known for its expertise and innovation in various sectors.
Automotive Components
The company is renowned for its production of high-quality automotive components, contributing to the success of India's growing automotive industry.
Bullish Harami Pattern Explained
Candlestick Formation
Two-candle reversal pattern indicating potential uptrend.
Market Psychology
Signals shift from bearish to bullish sentiment.
Trend Reversal
Often precedes significant upward price movement.
Current Market Price (CMP)
The current market price (CMP) of SUNDARMHLD is 393.00
Pointing to strong market enthusiasm and significant growth potential.
Pointing to strong market enthusiasm and significant growth potential.
Stop Loss Strategy
Set at 375.00 for end-of-day (EOD).
Crucial for risk management in volatile market conditions.
1
Entry
Buy at current market price of 393.00.
2
Monitor
Watch for price movements throughout trading day.
3
Exit
Sell if price reaches 375.00 at EOD.
Upside Potential
1
Target 1: 420.00
Initial resistance level, potential for quick gains.
2
Target 2: 432.00
Mid-range target, significant upside potential.
3
Target 3: 468.00
Ambitious long-term target for maximum profits.
Trading Action Plan
Entry Strategy
Enter a position at the current market price or during a slight pullback.
Position Sizing
Calculate an appropriate position size based on your account risk tolerance.
Exit Strategy
Utilize a trailing stop or take profits at predetermined target levels.
Risk Management
Strictly adhere to your stop loss order to safeguard your capital.