Long position in indigo
Long position in Interglobe aviation can be opened with strict stop-loss at the lower levels of trading channel.
Some important points to consider:
1. Stock is trading in a rising channel and currently at the bottom of the channel.
2. Respecting the historic horizontal support & resistance.
3. Accumulation of stock near the 38% Fibonacci retracement line.
4. RSI seen reversal from oversold zone & crossover is also being observed.
5. Some Doji candles can also be seen in recent days which can be interpreted as reversal in trend.
Some important points to consider:
1. Stock is trading in a rising channel and currently at the bottom of the channel.
2. Respecting the historic horizontal support & resistance.
3. Accumulation of stock near the 38% Fibonacci retracement line.
4. RSI seen reversal from oversold zone & crossover is also being observed.
5. Some Doji candles can also be seen in recent days which can be interpreted as reversal in trend.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.