Lemon tree hotels Go long above 100.45 and Short below 82.85
This is a 30 mins time frame analysis on lemon tree hotels with mid term view. Stock is currently in uptrend and likely to continue for near future.
Execute long position above 100.45 to 101.40 levels with 5 mins candle confirmation for target of 109.85 , maintaining a stop loss of 93.50.
Further execution of long position will depend upon how well 112.40 and 117.30 are breached and sustained, this range needs to be in consolidation phase to go further long above 121.90 which will be major outbreak point for larger targets 129.15/136.50/140.90 <here stoploss will become 112.40)
Keep close watch on the stoploss trendline to maintain trailing stoploss as and when the stock moves above 109.85 to 121.90 levels, to help n hold position for longer targets.
In case of short position, execute only below 82.85 with targets of 79.25/73.55/71.35 < Mainting stoploss of 87.80>
At 71.35 to 73.55 one can use as an opportunity to go long for rebound target of 82.85 and 87.80.
Execute long position above 100.45 to 101.40 levels with 5 mins candle confirmation for target of 109.85 , maintaining a stop loss of 93.50.
Further execution of long position will depend upon how well 112.40 and 117.30 are breached and sustained, this range needs to be in consolidation phase to go further long above 121.90 which will be major outbreak point for larger targets 129.15/136.50/140.90 <here stoploss will become 112.40)
Keep close watch on the stoploss trendline to maintain trailing stoploss as and when the stock moves above 109.85 to 121.90 levels, to help n hold position for longer targets.
In case of short position, execute only below 82.85 with targets of 79.25/73.55/71.35 < Mainting stoploss of 87.80>
At 71.35 to 73.55 one can use as an opportunity to go long for rebound target of 82.85 and 87.80.