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
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Morning star confirmed by the green candle on 5th
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A big red candle...no worries.. our SL is below the doji.
Trade closed: stop reached
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Stock seems to take support at the lower border of the middle channel. Re-entry possible at these levels.