ZEEL at Strong support zone-Both BUY and SHORT opportunity.

Hi Traders,

As you can see from the above chart ZEEL is range bound in weekly chart from Oct'20 and in day chart also it is range bound from some time.
Currently ZEEL at strong support zone i.e. at Rs.170 .
Based on how markets will open tomorrow (23-08-2021-Monday) we have to decide which type of trade we should take.
If tomorrow, 1 hour candle is closed above 170 then we should take the buy trade, target can be around 210 to 215. SL is based on your risk appetite.

If tomorrow 1 hour candle is closed below we can take short trade because the next support zone is located between Rs.143.45 to 134.65. So if you take the short trade, target is between Rs.143.45 to 134.65 and SL is based on your risk appetite.

This Chart analysis is for positional trading and not for intraday

NOTE:
This is not a financial advice trade at your own risk.

Thank you. Enjoy Trading.

Comment:

Hi Traders,

The Support zone at Rs.170/- is providing another good support, so if you not yet taken the Buy position you can take BUY position now, at current market price.

Thank you. Enjoy your trading.

Comment:

Hi traders,

ZEEL today reached the high price of Rs.224.20/-, which means our target of Rs.215/- achieved. Total profit per share is Rs.54.20/-(224.20-170) if you had taken the trade as per above suggestion.
So, at 224.20/- we exit our trade and book the profits.

Thank you. Enjoy the profits and enjoy the trading.