Zee Entertainment: Bullish Reversal Pattern
Reversal Pattern Spotted: Adam & Eve Double Bottom
Can go upto 226 - 230 levels.
Can go upto 226 - 230 levels.
Trade active
Chart suggest that significant supply is coming from price levels of 226 (Target Price)Recommendation:
We can keep Stop Loss little below recent low.
In this case recent low is 214.10 dated 09-Jun-21.
Hence, Stop Loss can be put at 213 price level.
Trade closed manually
We shall book profits at CMP (218.50)Net profit (ex. brokerage) = 218.50 - 206 = 12.50 / share
Reasons:
1) Negative divergence created between Price & RSI (14 Period),
2) Parabolic SAR showing sign of trend reversal
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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.