Description
⋅ Reversal Pattern Spotted: Adam & Eve Double Bottom
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