INTELLECT DESIGN --- INTRADAY SETUP -- 13/07/2022

INTELLECT DESIGN -- INTRADAY SETUP- HOURLY CHART -- 13/07/2022

1. stock trading at trendline & upper channel support level on hourly chart

2. last hourly candle above 50, 200 HMA

3. RSI at mid range 54 at daily chart

4. BUY can initiate at intraday between 672-675 TARGET 680-685 level stop loss at 665 level.

5 MACD above center and signal line at daily chart


** THIS IDEA IS FOR EDUCATIONAL PURPOSE .. ** trade at own risk !!

HAPPY TRADING !!

Comment:

educational tip : i draw circle to understand how stock takes consecutive support at channel lower level , this time near blue line expected support can be taken, but we should wait for some sign for pullback candle 1st hour if 15 min/ 1 hour candle is either doji, hammer, or bullish green trend will confirm as pullback and next hour candle buy position can initiated !

Comment:

if we observe last 3 consecutive circles at last 1 pullback 3 consecutive hammer candle can be seen as sign of pullback !

Comment:

1st 15 min chart form bullish green candle after consecutive last red candle so trend is pullback !

Comment:

1st 15 min candle HIT target 680-685 target raised to 690-695

Comment:

intraday high 688 at 9.35 am

Comment:

nifty double top formation at 16140 level so retrenchment seen now

Comment:

second rally exactly starts from 672 and move up above very well 678-680