A TECHNICAL VIEW ON SCHNEIDER ELECTRIC & INFRASTRUCTURE LTD—12.7.2020

 

SCHNEIDER ELECTRIC & INFRASTRUCTURE  LTD

Open-82.95--High-84.35--Low-81.70—Close-82.25 on 10.7.2020

Support:80.20/77.25/73.10/66.70/58/54.50 (All time low).

Resistance:87.70/89.70/93.70/95.40/107.50/114/122.45/128/133.85.

Critical Points moving up:--87.70 is the breakout point sustained close above can take it higher.

Critical Points moving down:--73.10, sustained break below it may drag it down.

 All Time High:--241.60 on 26.6.2015.

All Time Low:--54.50 on 28.8.2013.

(Bold and underlined figures are most important)

After making an all time high of 241.60 it started down journey and came pretty close to its all time low and made a low of 58 on 24.3.2020 thereafter it started  moving up and made a top  of 95.40 on 11.6.2020. Now it is moving in the range of 87.70---80.20 and break below 80.20 can take it down to 77.25 & 73.10 and sustained break below 73.10 can drag it down much lower which may please be noted. Similarly sustained breakout above 87.70can takes it to 94.50 and break above this mark can take it much higher.

Please note that trading volume in the stock is very low, so it could witness extreme volatility at times therefore long trade should be handle with extra caution and care.

Technically it is looking weak as of now but it has good support in the range of 81.55—73.10, therefore long trade can be tried in the following manner.

TRADING STRATEGY  

1. Buy near 80.20 but not below it with a stop loss of 79.20.It could be risky trade but worth trying.

Or

Buy on decline near 77.25 & 73.10 but not below 73.10 with a stop loss of 72.10. Long trade should not be tried below 73.10 in any case. This option looks relatively safe as of now.

Or

Buy in momentum above 87.70 with a stop loss of 86.50. It could be a risky trade but worth trying.

Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view.

Kindly note that make your cost your stop loss in favourable  trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.

 

Note: Price stated here are of spot market.

 

Contact me for strategic guidance to enter and exit trade.

 

Thanks 

Narendra Kumar Surana

suranank@gmail.com

Mobile—8240951127/9831313654.