TEAMLEASE - Breakout in Daily timeframe after 1 year. The stock is coming back for a retest of the breakout zone. I see a handsome risk-reward.
The company has decent fundamentals and good sales.
Stock has bounced from strong support trendline.
Today, stock has taken rejection from strong resistance of 3200.
Possibly, we might see a small correction before next big upmove.
Trade can be initiated only if stock is available at levels given in chart.
If we follow price action, scrip probably has made its bottom. Risk reward ratio is 1:7 if we expect to move share towards its all time high price.
I have tried to plot probable moves in future based on past price movements. However, price movement is subject to market conditions and any unforeseen events.
Team Lease Services provides employment related...
TeamLease Services is trying to move out of their decline range. The share has been in a downward trend since long and now it is trying to breach it with a little bit of volume upside.
There are two possibilities here :
1. Either the stock will continue the trend but the volume doesn't suggest so.
2. The weak hands will start exiting at current levels as it's a good resistance level. Wait for some retracement to start building the position. Better to buy as close as near the key zone level.
buy above 4360 in Intraday
For stoploss in Intraday use 5 minute chart and see nearest support.
for target use 5 min chart and fibonacci pivots as i don't keep predefined target.
try to book partially and trail.
Note: this is not a prediction for LONG/SHORT, trade will trigger only on given level as per technical analysis
NOTE: For Gapup or bo before 9:20
If...
Teamlease looks good above Rs. 4300/-. The scrip has just crossed 21, 55, 89 and 100 EMA with volumes greater than previous four days volumes.
Disclaimer : The idea kept in here is just for personal Study purpose and not a recommendation.
Teamlease gave a good breakout above 3300 and closed at 3405 on weekly and monthly basis..
Its almost life time high closing for the stock even thought it had seen 3700-3800 levels in last week..
with SMALL stop loss on 3095 , added the stock at 3405 ,,
with market chance of going up.. the stock can easily show 3800-4140 levels soon..
