Indigo Is in the verge of breaking my Quant Box.In daily and 30 min chart, Indigo has shown a consolidation of COI . Which clears, if it breaks either side and stands then it might give a multi-range target.
Please check the chart where I have provided a short-term multi-range target. Another side of the wall of the Quant box will be the Stop Loss.
The traders can plan their trade with derivative products also as per their risk.
Standard Disclaimer: Please consultant your financial advisor before investing. This report is for training purpose
Open Interest
MRF : good buy for swing??Verdict:
1) Multiple attempts to break support level @ 74097
2) Thursday (12th July) candle failed to breakout resistance
with high volume, means SELLERS might be active & profit
booking is likely scenario (since current trend is sideways)
3) OI is decreasing with high number of contracts traded
(From historical data, traders might have added SHORT
position on thursday, on verge of failed BREAKOUT & today
looks like SHORT COVERING)
4) 73000 to 73500 is good buying spot for 4-5% gain in 10 days