IIFL Finance–Swing Setup from 200-DEMA Support & Piercing Line!Hello Everyone, I hope you all are doing well in life and in trading!
Today I’ve brought a fresh swing trading opportunity in IIFL Finance , where the stock has taken support from the 200-EMA and is formed a bullish Piercing Line pattern.
After a strong uptrend, the stock corrected and has now taken trendline support (from channel base) along with the 200-day EMA confluence, a high-probability reversal zone. A clear bullish candle indicates a potential bounce from here.
The best part? The stock still offers a great risk-reward with defined entry, stop-loss, and 3 possible targets. Please refer to the chart for full trade setup details.
This setup is purely based on price action, moving average confluence, and support zone behavior.
If you are a swing or positional trader, this setup is worth keeping on your radar!
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Disclaimer: This idea is for educational purposes only. Always do your own research before taking trades.
