Range Breakout in HOMEFIRSTIf you look at chart at around 623-618 zone, we saw price rejection/resistance from this level. today in 1D timeframe the candle has given strong closing above the resistance zone with unusual volume which sounds good for this trade And same zone 623-618 will act as a support zone. Can make fresh position at CMP OR if you see any pullback/retest/backtest from these levels can also a good candidate to go long. it'll be better if we get this trade at around 650-640 level. would suggest to go long for the given targets of 713.50 & 794.50 with strict stop loss of 610 (only on candle closing below basis)
ENTRY :- CMP OR AROUND 640-650 RS
TARGET :- T1 713.50 & T2 794.50 (TARGET IS DETERMINED BY PREVIOUS SWINGS FROM THE RESISTANCE LEVELS)
STOPLOSS :- 610 (ONLY ON CANDLE CLOSING BELOW BASIS)
THIS VIEW OF MINE IS PURELY BASED ON TECHNIAL CHART AND FOR EDUCATIONAL PURPOSE ONLY, BEWARE OF NEWS AND OTHER FACTORS WHICH CAN AFFECT THE MARKET SENTIMENT OR ANY PARTICULAR STOCK/SECURITY.
