Lemon Tree Hotels is painting a classic bullish chart on the daily timeframe. Here's the quick breakdown:
The Setup:
✅ Strong Uptrend: Price above all key EMAs (9,20,50,200) in perfect bullish sequence.
✅ Breakout Confirmed: Cleared the crucial ₹164 Fibonacci resistance with a strong green candle on high volume.
✅ RSI at 69 is strong but not overly extended, suggesting room to run.
Levels to Watch:
🎯 Next Target: ₹194-195 (1.0 Fib Extension)
🛡️ Key Support: ₹163-165 (New support + 9EMA). Hold here keeps the uptrend intact.
My Plan:
LONG on any dip near ₹165 support.
Stop Loss: Below ₹163
Target: ₹194
The trend is your friend! As always, manage your risk.
#TechnicalAnalysis #StockMarket #NSE #LEMONTREE #Breakout #TradingSetup #Investing
The Setup:
✅ Strong Uptrend: Price above all key EMAs (9,20,50,200) in perfect bullish sequence.
✅ Breakout Confirmed: Cleared the crucial ₹164 Fibonacci resistance with a strong green candle on high volume.
✅ RSI at 69 is strong but not overly extended, suggesting room to run.
Levels to Watch:
🎯 Next Target: ₹194-195 (1.0 Fib Extension)
🛡️ Key Support: ₹163-165 (New support + 9EMA). Hold here keeps the uptrend intact.
My Plan:
LONG on any dip near ₹165 support.
Stop Loss: Below ₹163
Target: ₹194
The trend is your friend! As always, manage your risk.
#TechnicalAnalysis #StockMarket #NSE #LEMONTREE #Breakout #TradingSetup #Investing
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.