IBLHL was in a Trading Range/Channel since start of 2023 – touching the channel top last Dec and entering into a pullback/corrective channel which is actually a Bull Flag. It broke out of the channel and retested it, confirming an upcoming uptrend and momentum. Now it is ready to breakout its Trading Range Channel of 2.5 years and Volume Distribution statistics confirm this possibility. It has been posting HHs and HLs – price action above EMA-20 – what a striking plausible long trade in coming days! (INSHALLAH)
🚨 TECHNICAL BUY CALL – IBLHL 🚨
🎯 BUY ZONE: Rs. 43.64-48
📈 TP1 : Rs. 53.9
📈 TP2 : Rs. 62.5
🛑 STOP LOSS: BELOW Rs. 39.5 (Daily Close)
📊 RISK-REWARD: High Conviction | 1:4.78
Caution: Please buy in 3 parts in buying range. Close at least 50% position size at TP1 and then trail SL to avoid losing incurred profits in case of unforeseen market conditions.
PLEASE BOOST AND SHARE THE IDEA IF YOU FIND IT HELPFUL.
🚨 TECHNICAL BUY CALL – IBLHL 🚨
🎯 BUY ZONE: Rs. 43.64-48
📈 TP1 : Rs. 53.9
📈 TP2 : Rs. 62.5
🛑 STOP LOSS: BELOW Rs. 39.5 (Daily Close)
📊 RISK-REWARD: High Conviction | 1:4.78
Caution: Please buy in 3 parts in buying range. Close at least 50% position size at TP1 and then trail SL to avoid losing incurred profits in case of unforeseen market conditions.
PLEASE BOOST AND SHARE THE IDEA IF YOU FIND IT HELPFUL.
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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.