IREDA target of 250 (T&C)
Updated
IREDA has completed C&P pattern and as per that it has target of 250. Most likely if this week it closes above 185 then it is a positive sign.
The target depends a lot on Election Result euphroia, in case of stable govt formation PSU stocks are likely to show rally.
* It is not a trade advise but technical analysis shared based on my understanding of patterns and personal experiences, please take any trade at your own risk.
The target depends a lot on Election Result euphroia, in case of stable govt formation PSU stocks are likely to show rally.
* It is not a trade advise but technical analysis shared based on my understanding of patterns and personal experiences, please take any trade at your own risk.
Note
targets 195, 215, 240, 254Trade active
First target of 195 and second target of 215 achieved, Now 240 and then 250 are ON, keep trailing stop loss below previous target achieved like for now the stop loss must be little below 195.Trade active
321 touched today, another 9 points left for 4th target of 240Trade active
240 is achieved and 248 was the high that was pretty close to 250 so somewhere the final target is also achieved in round figures.Stock is still bullish and now may go higher than this level of might see profit booking from here but the said targets are achieved and hence can close the call here after today's closing.
Trade closed: target reached
254 was the day high and with this final target of 250 also done :)Note
Applying wave theory it must cross new LTH of 254 again at least one more time after some correction. Let's seeNote
As expected 254 is again broken and now stocks seems to be on another run. applying wave theory it might have even bigger targets from here so keep trailing stop loss can be the strategy to ride the run.
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