Zeel breakout after long time on monthly chart ..
1 year trade below this zone 161 and today finally broke with highest volume
Short term target 400++ sl 210 longterm target 600++ time frame 2 to 3 year
Cmp 161 today 40% up
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...
The stock has broken down but found support near 175. Trade is supported by brokerage calls and Supports Nearby.
Risk Reward Ratio - 2:1
SL is placed below the support zone. The target is placed based on fundamentals and previous swing high.
The stock has reached lower trend line and looks to take support and may undergo a reversal rally. Trade is supported by brokerage calls and Supports Nearby.
SL is placed below major support zone and target is place near swing and channel high.
Note: As the market is under selling pressure, enter only after confirming a reversal
Zeel has Breakdown 15min TF
Nice moment from somedays. But today sideways and closes after breakdown at 15min TF. Downtrending structure with LL LH.
It is a conversion from positive to negative because LL LH formation has started from today.
Area between 227 to 226 has a support but very close to 224.60 nice swing is here.
So here after breakdown of 224.60...
Zeel is in an accumulation phase. Wait for retesting for long term investment at levels of 156.. 135..114 sl 114.
Once it breakout 250 then it will increase the pace.
Views are just for learning purposes.