SUTM LONG TRADE (TEXTILE SECTOR) 12-06-2025- SUTM was previously in a huge downtrend till May 2023, followed by an accumulation zone until April this year.
- The stock broke out of this accumulation zone in a powerful manner with strong volume, touching a high of 249.
- After the breakout, the stock entered a corrective channel (marked in yellow) and formed a bull flag.
- Today, the stock broke up from this bull flag, indicating a continuation of the uptrend.
🚨 TECHNICAL BUY CALL – SUTM🚨
- BUY1: 203.68
- BUY2: 196
- BUY3: 186
- BUY4: 176
Target Prices
- TP1: 222.21
- TP2: 236
- TP3: 252
- TP4: 261
Stop loss: 160 DAILY CLOSE
RISK: REWARD - 1:3.75
Caution: Close at least 50% position size at TP1 and then trail SL to avoid losing incurred profits in case of unforeseen market conditions.
PLEASE BOOST AND SHARE THE IDEA IF YOU FIND IT HELPFUL.
