drlalitkumar1987

drlalitkumar1987

Linc Ltd – Positional Trade Setup Technical Setup: Strong support at the 61.8% Fibonacci retracement from the previous upmove. Weekly RSI shows positive divergence, suggesting a potential reversal. Daily RSI is sustaining above 60; Weekly RSI above 40; Monthly RSI holding 40 support. W-type pattern visible and forming on the weekly timeframe. Trading above the 5...

drlalitkumar1987

"A weekly W-type pattern has already formed with a successful breakout above the neckline. Positive RSI divergence and support at the 61.8% Fibonacci retracement from the previous upmove further reinforce the bullish outlook. Any dips can be considered as buying opportunities."

drlalitkumar1987

Chart seems good based on price action, do remember to follow risk and money management.

drlalitkumar1987

There are several factors at play, but all can still fail. RSI Divergence: Positive divergence on daily and weekly charts. Pattern: Formation of a W-pattern on the daily chart, now retesting the range Key Levels: Price near the 200-week moving average and a long-term trendline (since 2020). Candlestick: Engulfing candle formed earlier on the weekly...

drlalitkumar1987

Trendline Support (Post-COVID): Ashok Leyland appears to be testing a key trendline that it has been following since the COVID-19 recovery period. This trendline, has been tested multiple times before, can act as strong support. Fibonacci 50-61% Retracement (Demand Zone): The stock is currently sitting in the 50-61% Fibonacci retracement zone "golden zone" The...