INDHOTEL is nearing its all time high level and there was considerable volume action combined with a 10%+ upwards movement in the stock price. The stock seems really bullish in the Monthly as well as weekly charts and can be a good momentum pick.
Indhotel is just respecting the resistance that it has been respecting for from 13th oct.
Last day candle show some bullish movement but closes just near the resistance.
Tomorrow or day after tomorrow it may give a bullish movement closing above the symmetrical triangle pattern.
Break out above 212 can take the stock to 220-222 levels.
Target :- 220,225
stop loss :- 207
I hope you can now see how INDHOTEL represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis .
Disclaimer: It should not be assumed that...
WEAKNESS BELOW 150
INVEST OR TRADE wisely.
WE CAN JUST PREDICT.
Disclaimer: I am not a SEBI registered advisor , so before entering on my view plz ask your SEBI Registered Advisor . Profit is your and loss is your.
PLEASE LIKE AND SHARE IF YOU AGREE WITH THE IDEA
From the chart, it is evident that the stock took support at previous resistance of 191-195. After taking support at the mentioned level, it has completed retest and is moving back up. I am bullish on the stock for the next few weeks as it can give a great upside movement.