Solar industries has broken out of the upper channel 20 minutes ago..moving up with good volumes. Targets are marked in blue. Trade with stop loss. Do your own research. This is an idea, not advice
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Sorry, one correction...volumes are ok, not good. Aplogies.
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Target 1 - 1445. Achieved
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Currently at 1540. 1568 is the next resistance area.
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Right now at 1575. Next target 1618. I have closed my positions
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Solar Ind has reached 2000 Rs almost...so it has performed quite well...this chart was first posted in end of may.
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It has moved 5% today...CMP 2137...42% move since posting this chart...very importantly - RENEWABLE ENERGY SOURCES IS THE FUTURE FOR INDIA...India is taking a big step toward it..our planet itself needs ALTERNATIVE sources of energy, we cannot rely on fossil fuels for long. Solar is the way forward...hence we see a movement of "solar" company stocks.
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One vital point - India relies on China for cells and modules & other solar components...that is the biggest downside for this industry...
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Up 7% again today...charmed run...CMP 2326