Trade Setup:
Monthly: Stock has broken out multi-year trend line, with Bullish candle. Huge volumes are accumulated. Crossed 50EMA and sustained (never did before in its lifetime since 2010).
Weekly: change in trend from LH - LL to HH - HL. 50EMA and 200 EMA providing good support. Crossed 200EMA resistance as well (never did before since 2010).
Overall, Good confluences observed, which is very important for a trade.
Entry = CMP ie; 5.20 INR
SL = below support line ie; 3.30 INR
Target = 9.80 INR (T1) and 24 INR (T2)
RR = 2.42 (for T1)
Be patient with the stock. Fundamentals are improving.
Monthly: Stock has broken out multi-year trend line, with Bullish candle. Huge volumes are accumulated. Crossed 50EMA and sustained (never did before in its lifetime since 2010).
Weekly: change in trend from LH - LL to HH - HL. 50EMA and 200 EMA providing good support. Crossed 200EMA resistance as well (never did before since 2010).
Overall, Good confluences observed, which is very important for a trade.
Entry = CMP ie; 5.20 INR
SL = below support line ie; 3.30 INR
Target = 9.80 INR (T1) and 24 INR (T2)
RR = 2.42 (for T1)
Be patient with the stock. Fundamentals are improving.
Trade active:
11 jan21: Target (T1) achieved. Keep trailing your SL for Target 2 (T2). Nice trade.