ILP was in a bear channel since May 2024. As per price action principles, Bear Channel Is a Bull Flag. It completed three downward pushes towards channel bottom, and broke down from channel bottom showing Selling Climax, which is a warning of Trend Reversal. It has displayed reversal with supportive volume distribution and plotted a higher low. Also it has crossed above EMA-20 on 1D TF.
🚨 TECHNICAL BUY CALL – ILP🚨
🎯 BUY ZONE: Rs. 55-59
📈 TP : Rs. 64
📈 TP : Rs. 79
🛑 STOP LOSS: BELOW Rs. 52(Daily Close)
📊 RISK-REWARD: High Conviction | 1:5
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 THE IDEA IF YOU FIND IT HELPFUL.
🚨 TECHNICAL BUY CALL – ILP🚨
🎯 BUY ZONE: Rs. 55-59
📈 TP : Rs. 64
📈 TP : Rs. 79
🛑 STOP LOSS: BELOW Rs. 52(Daily Close)
📊 RISK-REWARD: High Conviction | 1:5
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 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.