Hello Traders.
Firstly Speaking of last posts PEL has achieved its first target on the same day and the trade is still running, ICICI bank is still consolidating but has neither hit the SL nor has given a significant move either side.
Speaking of the current chart of INDHOTEL, It made a ATH after the Covid pandemic bans were lifted and has been in a bull run ever-since
Now it's time for the tourism sector to boom according to me and hotels will be the major runners.
By the way I don't do Fundamental analysis so speaking of technicals INDHOTEL made a ATH then consolidated and retraced in a declining channel which seen with it's previous move forms a BULLISH FLAG AND POLE PATTERN.
Now it has retraced about 66% so it's looking ahead for a run for the upper marked targets and can also make a new ATH in coming weeks.
FIB looks good
MACD turning bullish
RSI is at good levels.
All required informations is on the charts, the orange lines are the level of buying for me whereas white lines are targets.
Please LIKE, COMMENT and SHARE to motivate and support me. I'll keep on posting new ideas on Indices & Stocks.
Any comments and critiques will be appreciated even if it's of opposite views as a trader can only be right so many times.
P.S - The decline in INDHOTELS was not steep and abrupt but slow and steady which always looks good to me. And the channel is also broken now
Firstly Speaking of last posts PEL has achieved its first target on the same day and the trade is still running, ICICI bank is still consolidating but has neither hit the SL nor has given a significant move either side.
Speaking of the current chart of INDHOTEL, It made a ATH after the Covid pandemic bans were lifted and has been in a bull run ever-since
Now it's time for the tourism sector to boom according to me and hotels will be the major runners.
By the way I don't do Fundamental analysis so speaking of technicals INDHOTEL made a ATH then consolidated and retraced in a declining channel which seen with it's previous move forms a BULLISH FLAG AND POLE PATTERN.
Now it has retraced about 66% so it's looking ahead for a run for the upper marked targets and can also make a new ATH in coming weeks.
FIB looks good
MACD turning bullish
RSI is at good levels.
All required informations is on the charts, the orange lines are the level of buying for me whereas white lines are targets.
Please LIKE, COMMENT and SHARE to motivate and support me. I'll keep on posting new ideas on Indices & Stocks.
Any comments and critiques will be appreciated even if it's of opposite views as a trader can only be right so many times.
P.S - The decline in INDHOTELS was not steep and abrupt but slow and steady which always looks good to me. And the channel is also broken now
Trade closed: target reached:
Target 1 hit, trailing now
Trade closed: target reached:
Target 2 hit booked some quantity, will be buying back if looks good for a quick option trade.
Godspeed
Godspeed
