POSITIONAL SHORT TO MEDIUM TERM TRADE ON VAKRANGEE !!
Briefing about my multi-confirmation setup on VAKRANGEE :
1.Wedge pattern breakout : It has broken out of downward pointing wedge pattern and did a last kiss on the upper trend line.
2.Volume spurt : breakout is supported by good volume ,again a sign of building interest in stock.
3.Golden Crossover : 50 DMA crossing over 200 DMA from below , a good bullish signal.
4.RSI : taking support on previous resistance turned support and indicating up move.
5.Fibo 0.5 level : Fibo 50% is crossed and stock trying to sustain it.
Personal view : Bullish
Timeframe used : Daily
Target : T1=55-56 , T2= 70-81
Disclaimer: These are just my personal observations and not trading or investment tips , please do your own research or consult an investment advisor before doing any investment or trading
1.Wedge pattern breakout : It has broken out of downward pointing wedge pattern and did a last kiss on the upper trend line.
2.Volume spurt : breakout is supported by good volume ,again a sign of building interest in stock.
3.Golden Crossover : 50 DMA crossing over 200 DMA from below , a good bullish signal.
4.RSI : taking support on previous resistance turned support and indicating up move.
5.Fibo 0.5 level : Fibo 50% is crossed and stock trying to sustain it.
Personal view : Bullish
Timeframe used : Daily
Target : T1=55-56 , T2= 70-81
Disclaimer: These are just my personal observations and not trading or investment tips , please do your own research or consult an investment advisor before doing any investment or trading
Comment:
TARGET 1 = 55 achieved