ITDCEM CMP - 72.60
Looking bullish in higher time frame. One can go for Short Term Trade setup with the following entry, exit & targets
Buy Range 72 - 75 / Stop Loss 61
Target 1 - 80
Target 2 - 90
Target 3 - 99
Disclaimer: This is my view and for educational purpose only.
On chart. One thing to check for is whether the company is falling for corporate governance issues or business issues. If for some corporate governance issue like frauds allegation in recent time. Then stay away. Stop loss is to be taken care of and is the low of the weekly reversal
An inside bar has been formed at 200MA and a previous resistance that was broken after. RSI hasnt shown any considerable divergence yet, so it will be better to enter after confirming the breakout of the high of the inside bar pattern with stops just below the low of the pattern.
