rk10

Honeywell Auto - Bounced from key supports

NSE:HONAUT   HONEYWELL AUTO IND
Took support at the 50% fibo retracement + 200EMA + 10MEMA and now looking to breakout of the descending trend and make a new higher high.
There is also a double RSI +ive divergence.

Long above 42000
SL 39990
Target 47750 and then 50,000++

Above 42,000 post entry if the stock moves 5% shift SL to cost and let it ride with a low risk exit if the markets turn negatively.