Very good buying setup observed in NYKAA
Before going long check following observations..
1)You can see Ultra high volume candle which is shown on chart. Sellers tried very hard to push the price down but not successful and long lower wick formed suggests very good support.
2)Next doji candle formed and reacted from support..
3) After doji candle good volume green candle formed suggest buying activity..
4)Recent hammer candle formed with more volume than previous 6 candles suggests trend reversal.
5) No major selling volume observed at support level after ultra high volume candle..
6) Price Respected support very well
RR - 1:7+
Follow Entry( @ given lvl or above) & SL
Like/Boost if you agreed my idea.. Thank you
Note - For Educational purpose only..
Before going long check following observations..
1)You can see Ultra high volume candle which is shown on chart. Sellers tried very hard to push the price down but not successful and long lower wick formed suggests very good support.
2)Next doji candle formed and reacted from support..
3) After doji candle good volume green candle formed suggest buying activity..
4)Recent hammer candle formed with more volume than previous 6 candles suggests trend reversal.
5) No major selling volume observed at support level after ultra high volume candle..
6) Price Respected support very well
RR - 1:7+
Follow Entry( @ given lvl or above) & SL
Like/Boost if you agreed my idea.. Thank you
Note - For Educational purpose only..
Comment:
As entry in stock triggered but price is not closed below SL level so hold for target or exit if price closes below SL level on 15 min chart
Trade closed: stop reached