Kashmir Foot-Hills
Hypothesis: J&K bank appears to be in a long term ABC correction and has reached major foot-hills (read-Support). Additionally, there seems to be strong 'Momentum' divergence developing in the Daily charts and a 'Gap' to be filled at 35.5 levels. Therefore, this overall counter current-trend strategy is based on a confluence of strong factors .
Overall trading strategy:
Buy at current levels: 32.5-33
Stop loss below: 31
Short term target: 35.5-36
Manage Risk. Trade Well.
Cheers,
CA Nick
Overall trading strategy:
Buy at current levels: 32.5-33
Stop loss below: 31
Short term target: 35.5-36
Manage Risk. Trade Well.
Cheers,
CA Nick
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.