Info Edge near crucial support
Updated
*Trade Setup*
T1 - 5600
T2 - 5000
SL - 4200
Info edge/Naukri has fallen nearly 25% from it's 52 week high.
It's forming triangle pattern.
Now, it is near the support regiom
*Trade Confirmations*
- It has faced 2 resistance and 2 support respectively.
- Has high probability to break the trend line after 2 resistance to go higher.
- Already has shown green consolidated candles near support region.
- The pattern is visible in 4H and 1D timeframes. So the probability of swing traders entering the stock is very high.
- Shows high probability.
- It has shown highest recovery from 52 week low to high.
Thank you for viewing my ideas and analysis.
I'm ready to take feedbacks and doubts. So let me know through the comments
T1 - 5600
T2 - 5000
SL - 4200
Info edge/Naukri has fallen nearly 25% from it's 52 week high.
It's forming triangle pattern.
Now, it is near the support regiom
*Trade Confirmations*
- It has faced 2 resistance and 2 support respectively.
- Has high probability to break the trend line after 2 resistance to go higher.
- Already has shown green consolidated candles near support region.
- The pattern is visible in 4H and 1D timeframes. So the probability of swing traders entering the stock is very high.
- Shows high probability.
- It has shown highest recovery from 52 week low to high.
Thank you for viewing my ideas and analysis.
I'm ready to take feedbacks and doubts. So let me know through the comments
Note
About to break the trend line.Has given a 8% move after my post/entry.
Can add more quantity if breaks the trendline :)
Note
It has successfully broken the trendline. Add more quantity.
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