IDEA Cellular heading channel resistance IDEA Cellular has been trading in down trend and trading in a bearish channel, although channel is wide enough, it seems to be approaching the channel resistance somewhere between 83-84 and it may reverse from there towards the channel support, but need to be cautious at 83 as trend may change from this level by breakout upside. there is limited upside but falling distance is much more.
IDEA
Nifty may go 10000+ in next 1 year.First of all, taking lessons from history, some similar sort of pattern/retracement took place. Here, I have tried to match the fibonacci pattern that was evolved in 2008 with present pattern. In 2008, reversal was shown right at 0.6%. So, in present pattern 0.6% shows 8186. This 0.6% retracement level is very much important for future course of action. This level will be extremely crucial and will indicate the strong bullish nature of nifty. Hope so my speculation will be bang on.
Idea Going To Reach 70 Levels (Short idea!)On weekly chart, it is observed that the price action breaks out of crucial support level of 82 which signals further bearishness in the price action and the prices shall move further down to 70 levels where the next support located.
Good time to Short Idea Sir Ji
Target: 70
Stoploss: 85
HOT Stock on your watchlist - IDEA Cellular The level of IDEA is very crucial here. One can buy from here and add at the level of 70 with the target of double in 2-3 months. The company is working very effectively. The financials are strong to take the company above.
Initial target of 122 can be achieved very fast.
RSI of the company is very low ie. only 18 which is good sign.
Happy trading!!