GLAXO LONG
Triangle formation on weekly basis and
expecting reversal from the triangle's shadow levels.
Upper levels targets 1473 - 1535
Can move further as 1591 - 1674 - 1844 and above.
No recommendation. Just view
Reason for Long
1. Head and Shoulder Formation (See chart)
2. High Volumes (See chart)
3. Good Fundamentals
4. RSI continously above 50 (See chart)
Target: 2000
Stop loss: RSI goes below 50
Chart is self explanatory. Entry, Targets and Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
Buy Glaxo, Stoploss 1470 Target 1600
Study: Trendline Support of 1500,Stock is trading near trendline support which is showing uptrend.Price is making Higher High and Higher Low
Glaxo
CMP - 1504
Stop - 1440 on DCB
Expectation -
1 - 1650
2 - 1800, Review at 1800
Expected Holding Period - 60 trading days or earlier
Ideas being shared only for educational purpose
