A perfect setup for swing trade.
1) Taking support @ 200 EMA
2) Morning star doji after a down trend .
3) Bounced from horizontal support from which it broke out earlier on 7 DEC.
4) @ the lower end of the new channel it has formed.
5) RSI at oversold region
Target - 2445 (9%)
SL- Low of the doji
2) Morning star doji after a down trend .
3) Bounced from horizontal support from which it broke out earlier on 7 DEC.
4) @ the lower end of the new channel it has formed.
5) RSI at oversold region
Target - 2445 (9%)
SL- Low of the doji
Note
Morning star confirmed by the green candle on 5thNote
A big red candle...no worries.. our SL is below the doji.Trade closed: stop reached
Note
Stock seems to take support at the lower border of the middle channel. Re-entry possible at these levels.
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