INDUSTOWER is trading currently at it daily and weekly support.
It is giving a buy opportunity at 220 levels as 200 DEMA is also showing a buying trend and weekly trend line has shown a support wherein stock has made a bullish candle last week.
Buy @220 levels for the target of 260 and then 300+
Disclaimer: This is just for the educational purpose and...
There is a huge accumulation observed within this pattern. I suppose this is likely to breakout on the upside.
If it breaks out the ride is gonna be massive & fun filling.
This is a value buy for long term investors with a good Dividend yield.
Short Term traders can jump in only when it break out in this weekly timeframe.
Hope this hepls... Happy trading :)
DAILY SWING CALL //Wednesday 09th of June 2021 // NSE:INDUSTOWER
// 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: 257.4
TARGET: 296+ (15% Around)
CMP - 252
Stop - 230 on DCB
T1 - 330
T2 - 500, Review at 330
Expected Holding Period - 120 trading days or earlier for T1
Ideas being shared only for educational purpose
Please do your own research or consult your financial advisor before investing
INDUSTOWER was hovering around its old trendline support for the last few sessions and has finally given a decent upside move. Is it reversing from this support? Perhaps. Time to start building long position. Further longs can be added once we get a retracement followed by continuation.
A weekly supportive level with a daily trend line that too supportive if both broken downwards cant give u good momentum unless a big gap down takes places with follow-up selling on it making it a gap down power candle (RED). Well, we can't see that happening here + it also has good resistance on the upper = it needs a big (green) candle power one with volumes...