Time frame - Daily
The stock made a high of 1583 on 12/07/2021 and since then, it has tried to break the level multiple times but failed to do so. While there has been a clear expansion of volume when the stock tried to move up, the stock has also witnessed lower volume during its downtrend. As the broader market has started to recover, I am biased towards making a long position with the below-mentioned levels as my targets and SL
Any long position to be made only after breakout above the level of 1583. I will be investing only 25-30% of my intended capital upon breakout and will wait for a pullback (and confirmation) to invest the remaining capital
T1 - 1980
T2 - 2130
SL - 1300
Disclaimer - The above idea is just for educational purposes, I am not certified to give any buy/sell call.
Do follow the account if the article delivered value to you :)
The stock made a high of 1583 on 12/07/2021 and since then, it has tried to break the level multiple times but failed to do so. While there has been a clear expansion of volume when the stock tried to move up, the stock has also witnessed lower volume during its downtrend. As the broader market has started to recover, I am biased towards making a long position with the below-mentioned levels as my targets and SL
Any long position to be made only after breakout above the level of 1583. I will be investing only 25-30% of my intended capital upon breakout and will wait for a pullback (and confirmation) to invest the remaining capital
T1 - 1980
T2 - 2130
SL - 1300
Disclaimer - The above idea is just for educational purposes, I am not certified to give any buy/sell call.
Do follow the account if the article delivered value to you :)