CNERGY has been in the consolidation for quite some times and it may continue to play in that zone. Technically very correct Buying (Buy-2) is recommended once price breaks the resistance zone.
However, price has been following ascending parallel channel as well, and at the moment it is close to the support line. Therefore, it may continue to go up. However, if this line is breached than price may slip to further lower values. Therefore, for day trading at CMP (BUY-1), a tight SL is recommended.
RSI indicator is also moving slowly upwards and Klinger is also laying low close to zero. Therefore, these are in a neutral zones hinting at the reluctance of traders in this SCRIPT.
Trade Values
Buy-1 (CMP) : 7.58
TP-1: 7.90
SL-1: 7.08
Buy-2: 8.20 (Technically better)
TP-2: 11.00
SL-2: 7.95
However, price has been following ascending parallel channel as well, and at the moment it is close to the support line. Therefore, it may continue to go up. However, if this line is breached than price may slip to further lower values. Therefore, for day trading at CMP (BUY-1), a tight SL is recommended.
RSI indicator is also moving slowly upwards and Klinger is also laying low close to zero. Therefore, these are in a neutral zones hinting at the reluctance of traders in this SCRIPT.
Trade Values
Buy-1 (CMP) : 7.58
TP-1: 7.90
SL-1: 7.08
Buy-2: 8.20 (Technically better)
TP-2: 11.00
SL-2: 7.95
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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.