This is only for positional trade. Short - mid term.
1) On daily time frame, we can see it sustain and took support from 200DMA.
Also closed above major support zone of 1075-1100 level range.
Please refer below chart : 1day Time Frame.
Keep your positional Trade with strict SL.
On daily Time frame it has made double bottom pattern and yesterday it gave breakout of neck line which is placed near 140 level.
Please refer below chart : Daily time frame.
Any dip above 140 level will be buying opportunity.
Short term target will be 153.50/155 level.
SL will be 137.
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$ Chart type: symmetrical triangle, Let it break for the above and close on a daily basis, if the risk to reward of your setup matches with your appetite then go long, also do use your setup...
Indian Terrain FAS (Indterrain)
Cmp - 38
Stop - 20 on DCB
T1 - 75
T2 - Open, Review at 75
Expected Holding Period - 240 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
If it closes above the trendline then it could be a breakout. Check levels and take the trade accordingly.
Targets marked in red lines above...
Confirm with crossover of MACD and ensure it closes above diagonal trendline....
The topmost red line may or may not get achieved in a very short time. Let's see. Please trail SL once it goes beyong T1
Relaxo has just entered the cloud. Whichever side it steps out, it will continue. COntinue watching and enter long position when it steps out and gives a closing outside the cloud.
Target no idea as of now. But we can consider 10% to 12% in a period of 1 month.
Keep it on your watchlist and take position if it steps outside the cloud towards the top...
Reasons to Trade:
1) TrendLine resistance
2) Good Volumes
3) Inverted Head & Shoulder Pattern
The stock might break the Long-term TrendLine as well as the Channel pattern with good volumes and fly.
The stock might come down and fill the gap, where the fib 61.8 matches, and then fly.
We will Check which scenario...