In this chart, RSI (Relative Strength Index) study is carried out on 4h timeframe chart with possible support zone/range and targets. Previously in chart after bearish formation, we saw sharp fall in price both the time. recently in chart, we can see the formation of Bullish/Positive divergence is visible, which suggests (not every time) the end of bear's strength and bulls are getting in charge or taking over the bears. Demand Zone/Support Zone is also nearby so, one can buy here at this levels/CMP or can wait for price the demand zone to hit the demand zone/support zone. you can also go with buy on dip strategy, buy 30% qty at current levels and buy 70% at near around demand zone (only if price falls). 4190-4125 is the demand zone/support zone. Go long with the strict stop loss of 4038 level (only on candle closing below basis), for the given target of 4677.65, 4935.35, 5199.65 levels.
ENTRY :- CMP (CURRENT MARKET PRICE) OR IF YOU GET IT NEAR AROUND 4190-4125 ZONE ALSO CAN BE A GOOD PICK.
STOPLOSS :- 4038 (CANDLE CLOSING BELOW BASIS)
TARGET :- 4677.65, 4935.35, 5199.65
ABOVE POSITION/ENTRY IS SUGGESTED ON THE BASIS OF RSI (RELATIVE STRENGTH INDEX) STUDY. TAKE THIS STUDY AS A EDUCATION, DO YOUR ANALYSIS BEFORE TAKING/ENTERING INTO THE TRADE.
THIS VIEW OF MINE IS PURELY BASED ON TECHNIAL CHART AND FOR EDUCATIONAL PURPOSE ONLY, BEWARE OF NEWS AND OTHER FACTORS WHICH CAN AFFECT THE MARKET SENTIMENT OR PARTICULAR STOCK/SECURITY.
ENTRY :- CMP (CURRENT MARKET PRICE) OR IF YOU GET IT NEAR AROUND 4190-4125 ZONE ALSO CAN BE A GOOD PICK.
STOPLOSS :- 4038 (CANDLE CLOSING BELOW BASIS)
TARGET :- 4677.65, 4935.35, 5199.65
ABOVE POSITION/ENTRY IS SUGGESTED ON THE BASIS OF RSI (RELATIVE STRENGTH INDEX) STUDY. TAKE THIS STUDY AS A EDUCATION, DO YOUR ANALYSIS BEFORE TAKING/ENTERING INTO THE TRADE.
THIS VIEW OF MINE IS PURELY BASED ON TECHNIAL CHART AND FOR EDUCATIONAL PURPOSE ONLY, BEWARE OF NEWS AND OTHER FACTORS WHICH CAN AFFECT THE MARKET SENTIMENT OR PARTICULAR STOCK/SECURITY.
Comment:
Marking this Trade as active after hitting our Stoploss/meeting our stoploss criteria. current are the best level to long and hold tight.
Comment:
Our 1st target has reached.
Trade closed: target reached:
Our 2nd target has achieved, would suggest to book half of your profits and keep the rest.
Trade closed: target reached:
our 3rd target of rs 5199 has reached, would suggest to book profit at these levels .
Comment:
5currently trading at 5600 level, would suggest to book fully or if you can take a little more risk then keep 10% of your holding
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