Trade setup:
nearly 7 year breakout (270 INR), and consolidated (around 330 INR levels), and another breakout and retest.
the slope of 50 EMA on weekly time frame supports the setup.
RSI > 50 indicates strength.
Buy price = around 330 - 340 INR. one can also enter the trade once the relative strength comes back to >0.
SL = 260 INR
target 1 = range of consolidation zone = 403 INR
target 2 = mid / long term = depth of round bottom = 500 INR
nearly 7 year breakout (270 INR), and consolidated (around 330 INR levels), and another breakout and retest.
the slope of 50 EMA on weekly time frame supports the setup.
RSI > 50 indicates strength.
Buy price = around 330 - 340 INR. one can also enter the trade once the relative strength comes back to >0.
SL = 260 INR
target 1 = range of consolidation zone = 403 INR
target 2 = mid / long term = depth of round bottom = 500 INR
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.