Comments
The short-term outlook is bullish for Swan Energy. The stock surged 4.9 per cent on Wednesday has closed on a strong note, indicating that the upmove could be gaining momentum. Also, this rise has happened from just above the 8-day moving average support, which is currently at ₹717. In addition to this, the positive moving average crossover on the daily chart strengthens the bullish case.
Swan Energy’s share price can rise to ₹820 in a couple of weeks. Traders can go long now at around ₹759. Accumulate on dips at ₹745. Keep the stop-loss at ₹712 initially. Trail the stop-loss up to ₹770 as soon as the stock moves up to ₹785. Move the stop-loss further up to ₹795 when the price touches ₹810. Exit the long positions at ₹820.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.