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)
Nifty - Technical Analysis:
Nifty had a gap-down opening today but tried to fill the gap through the course of the day. The intraday trend was bullish.
Nifty once again took support around the 11240 levels but there is no clear momentum direction yet as indicated by the ADX indicating a week 14.61.
Market - Driving Factors:
Travel and Tourism stocks...
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...