If it breaks resistance will reach 230 otherwise if breaks support reach 187 max
General Insurance is in a Pennant Pattern with a consolidation zone, so give an entry with appropriate Stop loss after the breakout from the zone 🔴DISCLAIMER ***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ****** Aggressive traders enter at the breakout and conservative traders may...
Breakout from the triangle formation can be seen clearly and the price has also retested the breakout price which is a clear conformation for a long position, the momentum seems to be not that good but the 20 day EMA and 50 day EMA both are providing support just below the current price levels so that also add up to a strong indication. Stop loss can be placed...
General insurance looks good can add some at cmp and add remaining at dip with sl 190 as closing sl and it will pick movement once’s it break 205 and sustain above and major upside movement will come once’s it break 220 and sustain above looks good can give bigger target like 223-250-300 and many more level it will take time
General Insurance (GICRE) Cmp - 201 Stop - 170 on DCB Expectation - T1 - 340 T2 - Open, Review at 340 Expected Holding Period - 120 trading days or earlier for T1 View:- Swing/Positional Disclaimer:- Ideas being shared only for educational purpose Please do your own research or consult your financial advisor before investing
H&S with Fundamental Change in GICRE
This scrip is under consolidation and it is expected to give breakout in the coming days. So traders keep on your radar to catch the momentum.
Keep an eye for Breakout or Breakdown
1. Consolidating in a box having area of 20 points 2. Retracement done from high to low (0.5 fib level) 3. Double Trendline Resistance 4. Decent delivery percentage (around 43% on 14/ 05 /2021) TWO STRATEGIES : (1) Buy above 204 for a near term TARGET OF 215-220 SL - 199 (daily closing basis) (2) ACCUMULATE TILL 0.618 fib level.... a good move till 240 can...
CMP=199, Target 1 and 2 is marked in the chart
GICRE is on a proper support zone where we can enter with an awesome risk to reward trade.
Note: 1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR. 2. Always remember SL is your lifeline, not the big target... 3.Follow us for more patterns and like, share so that we feel it is helpful to many and share more patterns... 3. Views given here is not a tip rather it is for educational purpose... Aftermarket...