HEG, a key player in the graphite electrode industry, presents a strong swing trading opportunity

Reasons are listed below :

  • 1950-2000 Strong Support Zone: This zone has proven to be a reliable support, making it a crucial level for price stability.
  • Bullish Engulfing Candle on Weekly Timeframe: A clear sign of buying strength, indicating potential for a bullish move.
  • Cup and Handle Pattern Breakout and Retest: A textbook breakout followed by a successful retest, signaling potential upward momentum.
  • 50 EMA Support on Weekly Timeframe: The stock is supported by the 50-week EMA, adding to the bullish bias.

Target – 2400 // 2740
Stoploss – weekly close below 1900

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@visionary.growth.insights

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