Retest + Turnaround + Big Volume = Mangchefer

Turnaround from Retest Zone with Volume Confirmation in Mangalore Chemicals & Fertilizers Ltd

MANGCHEFER

📈Pattern & Setup:

After a sharp rally, the stock entered a profit-booking phase and retested its previous breakout zone around 310–315. This level has now acted as strong support.

What’s interesting is the **volume surge** seen right at the retest zone — indicating smart money re-entering after a healthy correction. The price has started turning up from the base with a bullish intent, confirming demand returning at lower levels.

📝 Trade Plan:

Entry: Current levels (330–332) are suitable for early entry with risk control.

🚩Stop-Loss: 310 (below the retest base).

🎯Targets:

Target 1 → 365 (near-term resistance).
Target 2 → 401 (previous high and measured move projection).

💡Pyramiding Strategy:

1. Enter first lot around 330–332.
2. Add above 345 once breakout continuation confirms, trail SL to 320.
3. Add final lot above 365, trail SL to 345.

The goal is to ride the upmove towards 400+ levels with progressive position sizing.

🧠Logic Behind Selecting this Trade:

This setup highlights a **classic breakout–retest–continuation** pattern. After a solid uptrend, the stock cooled off, tested its support, and bounced back on rising volume — a strong bullish confirmation. This indicates renewed institutional buying after consolidation.

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🔴Disclaimer:

This is not an investment advice. Always do your own due diligence before making any trading or investment decision.