the stock has retested the support line after break out. cmp is 161.6
50MA has crossed over 200 MA and is looking up.
could go for long position.
the Stock has strong support /resistance at 160 levels as this has acted as resistance multiple time and the stock has broken out. further it has retested the level twice now from upper side.
The stock is seen as consolidating in a small range of 159-161 in the last 2 days in lower time frames.
My idea would be to go long above 162.60. the stock could see upside of 177/187/203 with Stop loss at point below 50 MA.(153-154)
an upside if 10-25% seems possible with a small stop loss. the R/R seems favourable
NB: I am not a SEBI registered RIA and this is my out look and not an advice to trade. please do your own due diligence before investing
50MA has crossed over 200 MA and is looking up.
could go for long position.
the Stock has strong support /resistance at 160 levels as this has acted as resistance multiple time and the stock has broken out. further it has retested the level twice now from upper side.
The stock is seen as consolidating in a small range of 159-161 in the last 2 days in lower time frames.
My idea would be to go long above 162.60. the stock could see upside of 177/187/203 with Stop loss at point below 50 MA.(153-154)
an upside if 10-25% seems possible with a small stop loss. the R/R seems favourable
NB: I am not a SEBI registered RIA and this is my out look and not an advice to trade. please do your own due diligence before investing
Comment:
t1 and t2 hit