Gajanan_Y

HONAUT- Tweezer Bottom at Strong Support Levels

Long
NSE:HONAUT   HONEYWELL AUTO IND
Following Chart is of Honeywell Automation which Clearly shows Tweezer Bottom at the Support Level of @39130
The trend must get reversed with Targets anywhere around @48000 to @50000 if the Strong Resistance Level is Broken @45000
The RSI is just reversing from the Oversold Region which hints a nice time to buy.
All in all you will end up with a sweet 11% profit in short term even if you book the profits @45000
Risk averse traders might wait for another day to confirm.

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Thanks, if you have any queries/suggestions related to above pattern, feel free to type below in the comment section.

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