Schaeffler India
Updated
Trade Setup:
Weekly and Daily: Excellent breakout from multi-year resistance with bullish candle (negligible wick) and huge volumes. Taking support at trendline.
Entry = invest 25% now, and invest rest on retracement between 6000 INR and 6200 INR.
SL = below high volume candle (weekly TF) ie; 5290 INR
Target = 1.618 levels of fib = 7808.55 INR
Weekly and Daily: Excellent breakout from multi-year resistance with bullish candle (negligible wick) and huge volumes. Taking support at trendline.
Entry = invest 25% now, and invest rest on retracement between 6000 INR and 6200 INR.
SL = below high volume candle (weekly TF) ie; 5290 INR
Target = 1.618 levels of fib = 7808.55 INR
Trade closed: target reached
12Oct21: Super trade. Target reached, and trade closed.
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