SELL BELOW 181.95 TARGET 178-175
STOP 186 or exit at 3:20. No carry forward.
8TH NOV, DAY TRADE ONLY.
USE PENDING ORDER.
When 1st Target Achieved Book 60% Quantity. And Trail Your SL to Entry Price.
No Technique Can make money for you, if you don't follow disciplinary principals.
Risk Management & Position sizing is must before entering any trade.
INFIBEAM made a dream rally in last coupls of days.Ending up making a 50% jump frmo 125 to 195. Currently flagging up, obviously.
Awaiting the triangle breakout in either direction
The Share was performing well in the past months. The stock split 1:10 on 31st August. The stock crossed its resistance of 146 with volume accompanied with increase in price. Although the candle for today was a red candle, I expect the stock to resume its up move, and reach a target of 180+ in next few months.
It has been observed on monthly chart that the price action breaks above strong resistance zone and shall further move up as buyers are now in control.
Fundamentally, the company have recorded highest quarter sales, and also sustaining growth in net profit margins, which has boosted the momentum in the stock.
Long term view:
T1- 180
T2-210
SL -140
Short...
update on my previous idea on infibeam here..moving as per the levels mentioned, now forming a fresh cup and handle pattern..the same fibo levels remain targets!
retraced from 23.6% to 38.2% in one single move today..up next fibo 50% at 1176 on monday?(or very soon)
becomes a positional call now..keep trailing until we see signs weakness on the charts
The price did bounce form 901 but rally failed due to lack of support in buyers , the price likely to head to Price Zone of 878 to 840 and can possibly reverse as this Zone is change of polarity or we can call it as the brake out form lower level Zone to higher Zone ,
This is for educational only
Regards
stock is in down trend
attempted a bounce
now in verge of resuming the down trend
one can look to enter the stock at mentioned levels
for a target towards 960/950 levels
with sl placed around 1005
Infibeam has closed at its all time high after a breakout of this level today. If it sustains above 900 stock looks set to make new highs into 4 digits
