ICL LONG TRADEICL has been going through TYPICAL CLASSICAL STAIR STEP UTREND, which in in fact is combo of Impulses and accumulations resulting in measured moves as per Principles of Price Action.
After latest Wyckoff Accumulation Phase and all corresponding events, it has broken out.
It is pulling back after posting a high of 92 in Spike phase of the new uptrend.
This pullback is expected to be shallow and end after High 1.
Volume Distribution, Price Action and Location of Price with respect to 20EMA are all supportive of a potential long setup.
TECHNICAL BUY/INVESTMENT CALL 1D –ICL
BUY1: 82.1
BUY2: 78.3
BUY3: 76.3
TP1 : Rs. 88.2
TP2 : Rs. 92.4
TP3 : Rs. 101.00
STOP LOSS: BELOW Rs. 73.00 (Daily Close)
RISK-REWARD: 1:3
Caution: 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.
