On the daily and weekly charts, this is a superb swing trade with a bear trap. By forming a no wick bullish candle, it has reversed from the significant point. Today, strong presence of the buyers could be felt. On the weekly chart, a bullish hammer (Bullish reversal) is forming. There's also a break through of positive resistance (Level 1). Divergence is also shown by Rsi (indicating increase in strength of the stock).
Also, this is a favourable risk to reward trade.
Best of luck and happy trade :)
Also, this is a favourable risk to reward trade.
Best of luck and happy trade :)
Trade closed: target reached:
Target almost reached - 237. Position closed considering the overall weakness in the market.
Trade closed: target reached:
240 done. :)