Trade Setup:
Stock making a round bottom. EMA's slopping upwards.
Weekly: Crossed 10 year resistance. Took support on trend line (thick pink line). Broke trendline (thin line), retest done, and bounced again.
Entry = 319.80 INR
SL = below 268 INR (on weekly closing basis)
Target = 393 INR (T1) and 453 INR ie; Fib levels (T2) and 493 INR (T3).
For T2, T3, patience is needed.
RR = 1.45 (with T1 consideration)
Stock making a round bottom. EMA's slopping upwards.
Weekly: Crossed 10 year resistance. Took support on trend line (thick pink line). Broke trendline (thin line), retest done, and bounced again.
Entry = 319.80 INR
SL = below 268 INR (on weekly closing basis)
Target = 393 INR (T1) and 453 INR ie; Fib levels (T2) and 493 INR (T3).
For T2, T3, patience is needed.
RR = 1.45 (with T1 consideration)
Trade closed: target reached
Target 1 reached. Trade closed.
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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.