Scrip can rebound back due to : 1) %william showing uptrend from oversold situation 2) Morning star pattern in the formation (Green engulfing candlestick required to complete the formation)
Trade can be started after it crosses 383 aiming towards resistance and neckline levels. Beyond neckline bullish surge and breakout could take it to target price = 431 Support level mentioned in chart
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Bullish trend shaping up as analyzed :)
Will wait for affirmed confirmation if the O(open) for tuesday comes above C(close) for today - 385 and maintains the upmove, with minor corrections and then enter trade. Will update SL accordingly
Well, Q1FY18 results were quite powerful resulting in enormous buying which usually happens if a company's earnings are much higher than expected, the company's stock may gap up the next day. It crossed the neckline in one go :)
Missed the rally, will now wait for scrip to settle and catch with the new trend if breakaway gap occurs resulting in bullish trend
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Ascending price channel pattern could be in play Planning to enter the trade at 430 aiming towards higher highs of upper trendline in swing momentum
Bro could you please provide timeframe of your target 1 & 2
amankavi
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@Siddharth_Kr_Jain Bro, Taking previous reversal into consideration, I think Call could be 15-25 days towards target 1 (Do ensure to go into trader after confirmation as said in idea) The call can be subject to not much of consolidation seen for the specific scrip
You can book partial/wholly profits around target 1 if there appears to be some uncertainty or bearish reversal is seen retracing towards support levels again
Beyond neckline bullish surge and breakout could take it to target price = 431 --> Can't say for now as the call can only be ascertained after it reaches around neckline level
Note: As positive news have a strong correlation with future stock performance and traders/investors sentiment, It can even show quick bullish trend and reach target price - 2 if some good news comes around the specific time for Nifty IT or specific sector