I'm watching Colgate for a potential long entry.
Here's the plan:
Entry Zone: 3548.8
Entry Price: Will take the entry only if a 15-minute candle breaks above 3548.8 . The high of that 15-minute candle will be my entry price.
Target: 3716
Stop Loss: 3465 (Stop loss will trigger only if a daily candle closes below this level)
If the entry gets...
A very good breakout from the 1560-1580 levels.
Since the breakout was a large candle, dont expect a major move today. Since 1600 being a round level, if it penetrates that level, then the stock can see a good upside. The stock might hover around in that area(1600 levels) for some time.
Since the 1620 level has been tested couple of times with massive pull backs,...