SABOOSOD :Higher Timeframe Breakout Setup

SABOOSOD

Company Infirmation

Saboo Sodium Chloro Ltd. engages in the manufacturing and sale of salt. The firm also focuses on the hotel industry, FMCG and hospitality. It produces surya, saboo, and tota iodized salts. The company was founded on November 22, 1993 and is headquartered in Jaipur, India.

Recent News
04- DEC -2023
Saboo Sodium Chloro Ties Up with Thailand's Dusit Thani for Resort in Rajasthan, India; Saboo Shares Climb 5%
The project involves the development of 350 villas or 700 guest rooms and wellness facilities, according to a Monday filing.

Technical Analysis
1.Trading above E M A 200

2. A tight compression near 24.5 rupees from the last 2.5 years and the level has not broken since 2011.

3. Volume supporting the up move.

4. RSI and stochasti are not overbought.

Entry should be above 24.50 of the breakout zone and the targets are mentioned on the chart.
You can keep the stop loss below the previous swing low.

Trade with proper position sizing and strict stop loss.

Keep learning,
Happy trading.