Coromandelprediction — Trading Ideas on TradingView

COROMANDEL : completing its Correction structure Swing Trading Opportunity 🚀 Symbol: COROMANDEL Timeframe: Daily Chart 📅 Current Price: ₹1,670.30 (as of Feb 25, 2023, 08:45 UTC) Target: ₹1,947–1,986 (Swing Target) 🎯 Stop Loss: ₹1,600.00 (Day Close Basis) ⚠️ Support Level: ₹1,505.05 (Extended Retracement Zone) 🛡️ Overview: Coromandel International Ltd. (COROMANDEL) is flashing a thrilling opportunity on the daily chart, perfect for swing traders looking to capitalize on a potential upward move! 🌟 After a sharp pullback, the stock has found its footing in the extended retracement zone around ₹1,505.05, setting the stage for a bullish reversal. The price is currently consolidating near ₹1,670.30, with signs of completing wave C in an Elliott Wave pattern, signaling a possible breakout to new highs. 😎 Entry Strategy: Jump into a long position near the current price of ₹1,670.30 or wait for a confirmed breakout above point (B) on the chart (around ₹1,760.00). This buying zone, marked between ₹1,658–1,825, aligns with the completion of wave C and offers a prime entry point for traders. 🏃‍♂️ For maximum upside, consider entering as volume picks up and the price pushes through resistance. Target: Aim for the swing target of ₹1,947–1,986, based on the upper boundary of the projected wave structure and historical resistance levels. This represents a potential upside of 16–19% from the current price, making it an exciting reward for risk-takers! 🚀 Stop Loss: Set a tight stop loss at ₹1,600.00 (day close basis) to protect against any unexpected drops. This level is just below the extended retracement zone at ₹1,505.05, ensuring you’re safeguarded while allowing for normal market volatility. 🛑 Risk Management: Risk-to-Reward Ratio: Approximately 1:4, offering a golden opportunity with the target range of ₹1,947–1,986 and stop loss at ₹1,600.00. 🏆 Position Sizing: Keep your position size in check with your risk tolerance, limiting losses to 1–2% of your trading capital. 📊 Watch Key Levels: Monitor points (A), (B), (C), (3), (4), and (5) on the chart for confirmation of the wave pattern and momentum shifts. 🔍 Rationale: The chart reveals a classic Elliott Wave pattern, with the stock completing wave C near ₹1,670.30 and setting up for a strong upward move to wave (5). The extended retracement zone at ₹1,505.05 acts as a solid support, while the buying zone (₹1,658–1,825) suggests institutional accumulation. This setup screams bullish potential through 2025, making it a must-watch for traders! 🐂 Disclaimer: This is not financial advice. Trade at your own risk and do your due diligence before taking any position. Market conditions can change faster than a lightning bolt, and past performance isn’t a guarantee of future results. ⚡ Stay tuned for updates, and happy trading! 🚀✨

COROMANDEL Swing Long Setup Enter only when 15minute candle closes above the Entry Zone Price - 1642.35 Target with Risk to reward 1:2 is 1835.75 Stoploss only when 1 day candle closes below the price - 1545.65 Note: This is not any financial advice, this is for education purpose only.

COROMANDEL Swing Long Setup Enter with Limit order placed at - 1657.35 Target with Risk to reward 1:2 is 1758.25 Stoploss only when 1 day candle closes below the price - 1606.9 Note: This is not any financial advice, this is for education purpose only

Coromandel International (NSE: COROMANDEL) Forecast Wait for the weekly close Based on the daily chart for Coromandel International (NSE: COROMANDEL), here is the summary: Key Levels: - Breakout Level: Around 1287-1290 Current Price: - Current Price: 1287.85 Chart Analysis: 1. Ascending Triangle Pattern: The stock has formed an ascending triangle pattern, a bullish continuation pattern, which it has recently broken out of. 2. Breakout Confirmation: The breakout from the ascending triangle indicates a potential upward move. 3. Targets: - Short-Term Target 1: 1320 - Short-Term Target 2: 1380 - Long-Term Target 1: 1450 - Long-Term Target 2: 1700 Strategy: - Entry: The stock has already broken out of the ascending triangle. A potential entry point would be on a pullback to the breakout level (around 1287-1290) or on confirmation of sustained upward momentum. - Stop Loss: Consider placing a stop loss below the breakout level, around 1260, to manage risk. - Targets: - For short-term trades, consider taking profits at 1320 and 1380. - For long-term trades, the targets are 1450 and 1700. Conclusion: - The stock has shown a strong bullish breakout from the ascending triangle pattern. The breakout suggests a continuation of the upward trend, with short-term targets at 1320 and 1380, and longer-term targets at 1450 and 1700. Monitoring the price action around the breakout level is crucial for confirming the trend and making informed trading decisions.

Coromandel International Ltd. (ticker: COROMANDEL) Forecast The provided chart is a 4-hour candlestick chart for Coromandel International Ltd. (ticker: COROMANDEL) on the National Stock Exchange (NSE). Here’s a detailed analysis and summary of the chart: Timeframe and Data: - Timeframe: 4-hour - Data Range: From early January 2024 to late May 2024 Price Analysis: - Current Price: ₹1,246.25 - Price Movement: The stock has shown a mix of uptrend and consolidation phases within the given period. Technical Patterns and Indicators: - Double Top Formation: - The chart shows a clear double top pattern, indicating a potential bearish reversal. The double top is formed around the ₹1,280.00 level. - The two peaks marked by red arrows show the double top pattern within the resistance zone. - Support and Resistance Zones: - Resistance Zone: The area between ₹1,250.00 and ₹1,280.00 is highlighted as a resistance zone, where the price has faced selling pressure. - Support Zone: A significant support zone is marked around ₹1,120.00 to ₹1,040.00, which acted as a strong support level earlier in the year. - Trendlines: - An upward-sloping trendline can be seen connecting the higher lows from mid-March to May 2024. - Another trendline connecting the higher highs forms a rising wedge pattern, indicating a potential bearish breakout. - Sell Trigger and Target: - A sell trigger is indicated at the break below the minor support level around ₹1,230.00. - Target Price: The sell target (TP) is marked at ₹1,180.00, suggesting a bearish move towards this level after breaking the support. Key Levels: - Resistance Levels: - Immediate resistance at the double top region around ₹1,280.00. - Another resistance level within the resistance zone at ₹1,250.00. - Support Levels: - Immediate support at around ₹1,230.00, where a minor consolidation can be seen. - Further support at the major support zone around ₹1,120.00 to ₹1,040.00. Trade Setup: - Bearish Scenario: The double top formation suggests a potential bearish scenario. If the price breaks below the minor support level of ₹1,230.00 and the trendline support, a move towards the sell target at ₹1,180.00 is likely. - Bullish Scenario: For a bullish outlook, the price needs to break and sustain above the resistance zone at ₹1,280.00. This could invalidate the double top pattern and suggest further upside potential. Conclusion: The chart for Coromandel International Ltd. indicates a potential bearish scenario with the formation of a double top pattern around ₹1,280.00 and a rising wedge. A break below the immediate support level of ₹1,230.00 could trigger a move towards the sell target at ₹1,180.00. Traders should look for confirmed breakouts from key levels to make informed trading decisions. The resistance zone around ₹1,250.00 to ₹1,280.00 and the support levels at ₹1,230.00 and ₹1,120.00 to ₹1,040.00 are crucial levels to watch.

COROMANDEL--@Support??this stock is now its near to the support zone, multiple times price takes the help of this zone to rise. this time also this zone will push the price upside. we have a strong demand zone lies under this support level. keep looking for long in this stock from support zone@1000