LXCHEM LONG | TECHNO FUNDAMENTALS

1 Eki 2024

Hello fellow Investors and Traders,

Investing is an Art and Analyzing is the artwork

LXCHEM is poised at a crucial pivot point.

• Golden Cross on Daily Timeframe is a good indicator of momentum
  
• Stock has tested the critical selling levels of 320 and shown a sharp pullback towards the support levels of 290 ( Complete dominance of Sellers exhibited)
  
• 290 levels mark the presence of Buyers.
  
• It will be interesting to watch the stock spend some time here and that will show the strength of buyers and level
  
• Close above 290-300 range would establish the trade initiation
  

This is a mid-term positional trade and hence patience is expected for returns

Stop Loss is approx. 9-10% at 266. 50EMA and 200EMA will prove as string supports and hence SL place a few points below

T1, T2 and T3 are marked on charts

Potential Returns approx. 33%

R2R 1:3.3

Note on Fundamentals :
Key Ratios and Fundamental Health Checks look good as well

Plan Your Trades and Trade Your Plan...I'll Keep this forum update when I jump In

6 Eki 2024

Not

Entry Not Triggered. Lets wait and watch next week...