Trading Idea:
Stock: Tejas Networks Ltd (TEJASNET)
Timeframe: Daily (1D)
Current Price: 704.95 INR
Key Levels:
Monthly Liquidity Zone: Support at around 644.65 INR.
Target Zone: Potential upside towards 1,440.00 INR to 1,458.95 INR.
Trade Setup:
Entry: Buy around 644.65 INR (near the support level) for a possible bounce, especially if the price confirms a reversal from this level.
Stop Loss: Place a stop just below 644.65 INR, considering it’s a key support zone.
Target: Aim for the price to reach the target zone between 1,440 INR to 1,458.95 INR. Watch for price action at these levels for possible further action.
Reasoning:
The chart shows a strong sell-off followed by a potential reversal at monthly liquidity support.
The CHoCH (Change of Character) pattern suggests a shift in trend direction, which could provide an opportunity for an upward move.
Stock: Tejas Networks Ltd (TEJASNET)
Timeframe: Daily (1D)
Current Price: 704.95 INR
Key Levels:
Monthly Liquidity Zone: Support at around 644.65 INR.
Target Zone: Potential upside towards 1,440.00 INR to 1,458.95 INR.
Trade Setup:
Entry: Buy around 644.65 INR (near the support level) for a possible bounce, especially if the price confirms a reversal from this level.
Stop Loss: Place a stop just below 644.65 INR, considering it’s a key support zone.
Target: Aim for the price to reach the target zone between 1,440 INR to 1,458.95 INR. Watch for price action at these levels for possible further action.
Reasoning:
The chart shows a strong sell-off followed by a potential reversal at monthly liquidity support.
The CHoCH (Change of Character) pattern suggests a shift in trend direction, which could provide an opportunity for an upward move.
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.
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.