LEMONTREE trade ideas
LEMONTREE consolidation; Asc Triangle & Parallel ChannelLEMON Tree started consolidation move, trapped in Ascending Triangle pattern since late 2020. This consolidation broke out in Late September. Coincidentally I also found out that the stock is also following a Parallel Channel Consolidation, as visible from chart. The stock is now consolidating near upper band of this Channel. A probable breakout from this point, supported with volumes may lead this stock to scale new highs after the fall of March 2020. Stay with this trade for a target of above 60.
** I am not SEBI Registered. Kindly consult your advisor before taking trade. **
LEMONTREE LONGChart is self explanatory
Enter Around 40 - 47
Buy one lot around 47 and second around 40 to have a average price.
Stop Loss defined on the chart. Hold with Patience.
Don't jump onto the script in a hurry as Current Business is disrupted due to Rains in Uttarakhand, Kerala but expected to bounce back in Nov and Dec
Disclaimer: This view is for only educational purpose
LEMON TREEWait And Watch ??
Look for Low risk, High reward, and High Probability setups-
Things to Remember while Trading with the Trend
1. Know what the trend is.
2. The best trades are made in the direction of the trend.
3. Assume that the main trendline or moving average will hold.
4. The longer the moving average is, the better it defines the trend.
5. Wait for the pullback.
6. Don’t chase the market.
7. Don’t fight the market.
8. Even in the strongest trends there should be some retracement.
9. The closer the market is to the trendline, the better the risk/reward ratio is.
10. Use ADX to determine the strength of the trend.
11. Higher the level of ADX , the stronger the trend, below 20 consider the market to be choppy
12. Hold trades longer in a strong trend.
13. Wait for confirmation of a trendline breaking before reversing position.
14. Know where the Support levels are.
15. Place stops outside the Support levels.
Thank You..
Something Big is ComingIf we observe well the volume surge on the stock has been skyrocketing for the past month,
The stock has broken out one of the major resistance levels of 47.05 which has been acted strongly on the past two times when the price surged
The level of 52 can also act as a resistance, But last time when the price fell this level has not been respected very much so it is just a matter of time this level will breached
Breakout in Lemon Tree Hotels...Chart is self explanatory. Entry, Targets and Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
Lemon Tree: Inverted Head and ShoulderLemon Tree is getting ready for a big rally. It formed an Inverted Head and Shoulder pattern on the daily chart. With the opening up of the tourism sector after a long time, Lemon Tree will surely be a beneficiary of the ease down and revenge tourism in the coming days.
Target 1: 53-55
Target 2: 63-64