The Stock has formed big W pattern which is the opposite of big M posted today. We can observe that RSI is showing Divergence One can trade the stock in the following manner :-
Entry current Price 214
SL 207 or below of 204 (Closing) depending upon the risk you want take in this trade
Risk/Reward Ratio 3.5
Disclaimer : All ideas are my personnel...
Nifty seems to making Big W pattern which is valid only if price closes above the confirmation line however swing trader can trade it now and ride the price upward till the confirmation line. IF price drops below the low of today one should close the position immediately. Mostly price stalls at the confirmation line for some time but if it trades above it one can...