Indus Towers Long Idea for Swing Trading
Updated
As one can see on the chart..there is a confluence of trendline from march 2020 lows and horizontal support around the 230 area. It has made a double bottom on the daily chart at an important support. The support is also backed by the option chain. There was also slightly higher volume on friday. Now all that is needed is a confirmation which would be sustaining above 245. If it sustains above 245 then entry is initiated.
Entry : Above 245
SL : 230 Closing basis
Targets are mentioned on chart. for a short to medium term trader upper end of the 1 year channel could be the target around 300+
This is my first idea .... views are welcome.
Entry : Above 245
SL : 230 Closing basis
Targets are mentioned on chart. for a short to medium term trader upper end of the 1 year channel could be the target around 300+
This is my first idea .... views are welcome.
Order cancelled
Trade did not trigger as it did not go above 245. It has also broken the lower TL support.
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