Hello Traders,
The last stock given here on tradingview did not close above the buying levels so here I am with a stock that is not a breakout trade but a support/resistance trade. The stock I am speaking about is Infoedge.
Now Infoedge gave a breakout of old resistance and went on a bull run for a 2 weeks or so but then failed to made a higher high and came down, now the point where Naukri is right now is the old broken resistance turned into support and it is supporting and resisting the fall for downward levels.
There is also a long-term trendline providing support at the same place making it a confluence circle so we can have a upmove from the same point again.
RSI has room for bulls
MACD crossing to green levels
Last breakout zone turned support
Trendline support present
Buy Above - 5760
Targets mentioned in the chart above
The last stock given here on tradingview did not close above the buying levels so here I am with a stock that is not a breakout trade but a support/resistance trade. The stock I am speaking about is Infoedge.
Now Infoedge gave a breakout of old resistance and went on a bull run for a 2 weeks or so but then failed to made a higher high and came down, now the point where Naukri is right now is the old broken resistance turned into support and it is supporting and resisting the fall for downward levels.
There is also a long-term trendline providing support at the same place making it a confluence circle so we can have a upmove from the same point again.
RSI has room for bulls
MACD crossing to green levels
Last breakout zone turned support
Trendline support present
Buy Above - 5760
Targets mentioned in the chart above
Order cancelled:
Gave a breakdown didn't touch levels of buying. Avoiding
