The Chart is self explanatory. The breakout is visible clearly with Volume Support.
*** This is just for Educational purposes. I am a learner too. I am not SEBI Registered. Kindly do your own analysis before taking trade.***
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.
The weekly charts for the stock shows an inverted head and shoulder pattern that ha clearly broken out.
Can u believe that it moved more than 41% . It also had taken out a major previous resistances since 2008 and 2018
while breaking out. The price momentum and trend indicators are bullish on every timeframe.
An entry could be made on daily retracement candles and...
Price is rangebound as of now though being in a rising channel. There is a strong resistance at 139 from which the price has been rejected once. MCD is showing bearish cross over even though RSI is oversold. Price just tested the 50 EMA. In the past whenever the price touched this level, it showed a huge fall. Wait for it to break resistance and test 139 as...
maintain stop loss of lowest trend line. Target 1 will be 148. Target 2 will be 172.40
Finale will be at 186 which will eventually become supply zone
Please like and share the idea and support it
Filled Gap and moving ahead. RSI also moved up from the oversold zone. Increasing in delivery volume also indicating an up-move expected. We can expect price movement till 117. Even holding for long shall reward more.
DAILY SWING CALL // Tuesday 16th of February 2021 / NSE:INDHOTEL
// This is a swing trade call and not an intra-day trade. Please do not expect the stock to go up on the same day of posting or within a few sessions. Please follow the notes along with the posting before, during and after entering the trade //
CMP / LTP: 131.95
TARGET: 152+ (15% Around)
1. Formation of Bullish Pennant and It is a Continous Pattern means Prior trend resumes after Breakout.
2. The stock has support in the zone of 78 - 80.
Every Price Action Pattern after breakout provides some Target Range and according to Triangle:
Entry Price: Above 81
Target Price: 95 and then 110
View Negated Below: 78 in Closing...