Trade Setup:
Daily: inverted hammer, indicating buying intention. The volumes are high, which means accumulation at lower levels. As a confluence, the stock is at bottom of channel pattern & strong support level (pink zone).
Entry = CMP ie, approx. 3397 INR
SL = below 200 EMA or support level at approx. 3300 INR
Target = 3700 INE (Next resistance zone)
RR = 1: 2.8 (highly favorable)
Note: on monthly time frame, the stock has exhibited 'evening star' (bearish) pattern. So, be cautious for long term buying.
Daily: inverted hammer, indicating buying intention. The volumes are high, which means accumulation at lower levels. As a confluence, the stock is at bottom of channel pattern & strong support level (pink zone).
Entry = CMP ie, approx. 3397 INR
SL = below 200 EMA or support level at approx. 3300 INR
Target = 3700 INE (Next resistance zone)
RR = 1: 2.8 (highly favorable)
Note: on monthly time frame, the stock has exhibited 'evening star' (bearish) pattern. So, be cautious for long term buying.
Trade closed: target reached:
27Dec21: target reached. super trade! Keep trailing.
Most likely the gap will be filled after 3750 INR
Most likely the gap will be filled after 3750 INR
Trade closed: target reached:
gap filled ie; target of 3950 INR done