The analysis is done on daily TF hence price may take few days to few weeks in order to reach the targets.
Trade setup is explained in image itself.
The above analysis is purely for educational purpose. Traders must do their own study & follow risk management before entering into any trade
Checkout my other ideas to understand how one can earn from stock...
IGL is bouncing off again from its medium term support, same as it did a month and a half ago. The stock bounced off this support the last time, went to the resistance at 580 and came back to its support. The stock's price action today is indicative of a bounce again at this trend line and 200DMA support. The candle formation is also of 'morning star' type with...
What Does Morning Star Mean?
A morning star is a visual pattern consisting of three candlesticks that is interpreted as a bullish sign by technical analysts.
A morning star forms following a downward trend and it indicates the start of an upward climb.
It is a sign of a reversal in the previous price trend. Traders watch for the formation of a morning star and...
INDIGO - Swing trade key points
Weekly resistance at 1800 to 1900 levels
Weekly support zones at 700 to 800 levels
Week timeframe pattern is broadening pattern so we night break this hurdle on weekly basis with a power green candle and then a good upside is
possible for 25% to the levels of 2200
Day time frame suggests an ascending pattern with good dip...