ZOMATO -- 1 HOUR CHART --SETUP -- INTRADAY --23/11/2022
1. ZOMATO 1 hour chart seen stock close at near trendline suppprot level.
2. stock above 55 hma as seen hull suit indicator when 15 min candle close above 64 level , BUY can initiate on intraday above 64 for target 65-66 stop loss 62.50
3. IF trendline support breaks bellow 62.75 , 15 min candle close bellow 62.75 for confirmation short position can initiate for target 62-61
4. wma RSI line near oversold level at hourly chart so short position should take after 15 min candle confirmation only bellow 62.75
5. pullback is expected at oversold level so Buy IS favorable the short position at better risk to reward ratio.
** THIS IDEA IS FOR EDUCATIONAL PORPOSE .. trade at own risk !!
HAPPY TRADING !!
1. ZOMATO 1 hour chart seen stock close at near trendline suppprot level.
2. stock above 55 hma as seen hull suit indicator when 15 min candle close above 64 level , BUY can initiate on intraday above 64 for target 65-66 stop loss 62.50
3. IF trendline support breaks bellow 62.75 , 15 min candle close bellow 62.75 for confirmation short position can initiate for target 62-61
4. wma RSI line near oversold level at hourly chart so short position should take after 15 min candle confirmation only bellow 62.75
5. pullback is expected at oversold level so Buy IS favorable the short position at better risk to reward ratio.
** THIS IDEA IS FOR EDUCATIONAL PORPOSE .. trade at own risk !!
HAPPY TRADING !!
Comment:
trendline breadown on intraday bellow 63.25 seen as stock fall towrards 62 downside sell target HIT - 62 11.15 am