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tradewithamey_
Nov 6, 2023 8:00 AM

Base formation is seen in Ideaforge. Long

IDEAFORGE TECHNO LTDNSE

Description

Reversal trade for educational purposes

Ideaforge has been in a downtrend since its listing. However, stock has formed a short term base.
780-840 is a good accumulation zone. Breakout above 840 might be a sign for reversal.
RSI positive divergence is clearlyseen in the stock
Targets can 960, 1000, 1050+ with SL below 780 DCB.
However, there is no guarantee regarding long term reversal hence traders should trail their SL to reduce loss.

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