Justdial is consolidating on daily timeframe since one month. its breaksout can give approx 12-13%profit within few days or week.
Enter only after it breaks 985 put stop loss of 3.5% (must) and take profit at nearly 1115 or 1120 and wait for the volume to spike up and then u can enter
risk reward in this swing trade is 4:1
NOTE: This is just a trade setup...
Just dial was been in a consolidation phase for a long enough time between the price range of 318-824. On 1st March 2021 weekly chart we did managed to see false breakout to the level of 824, result of which we see down move from there towards 717 and we have seen good reversal confirming support of 717 on 17th May 2021 weekly candle.
JustDial looks interesting for its next move.
- Strong volumes
- Approaching trendline resistance
- RSI levels are looking bullish.
- Completed BO and retest
One can go long above 930 levels with SL 830 CLSB
This analysis is done purely on basis of price action and chart patterns
Analysis is done on Daily TF hence it may take few days to few weeks for price to reach the given target.
Stock is at good consolidation phase and it can be accumulated between CMP and 590 levels.
Trade Strategy as well as SL is given in the image itself.
Target levels are also mentioned...
Looking at past two days trend from Justdail recovery, currently at trendline.
Incase if breaks trendline or reversal from trendline - we do have possible two trade opportunities.
Incase if goes above 400 - > we can expect targets in the range of 404/409/414/419
If breaks trend line of 395 - > we can expect targets in the range of 391/386/381/376