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BeLikeMoby
Jan 16, 2021 12:48 PM

Good possible long trade in Ipcalabs Long

IPCA LABORATORIESNSE

Description

Ipcalabs, price movement has fallen out of the Bollinger bands recently and has formed a 'W' bottom. What further makes this a good possible long trade is positive RSI divergence on the RSI (14) chart. (Lower - Low on Price Chart and Lower high on RSI Chart)

Consider entry at Current levels with a stop loss of 2084.2 with below targets -
Target 1 - ₹2,167
Target 2 - ₹ 2,207.60
Target 3 - ₹ 2,248.40

Consider trailing your stop loss to the targets once every target is hit.

Trade closed: stop reached

Stop loss triggered on the daily chart.
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