Do not take the Sl; what i have observed from the prior price action of Burger King is that it corrects approx. 0.786 from its swing high, before continuing the rally.
Also, the stock is seen to have a good delivery % from past 2 days; ie: above 50% everyday. So when everyone is accumulating the stock then why are you scared of taking it as a delivery and hold it...
The stock is in an uptrend and is creating a base @ the support of its 50EMA; also there is an ascending Trend-line that would act as a major supply zone in coming days.
Buy @ 151 for swing
Sl @ 149
Tgt1 @ 156
Tgt2 @ 160
I won't take it. Posting my view as asked.
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells at "where" to act in "what direction. Unless it triggers, like, let's say the candle doesn't break the level which says "Buy if it breaks", You should not buy at all.
Burger King is geeting a gd support from the demand zone now, as well as volumes are also increasing, making it bullish.
Buy Burger king at 148
Tgt: 172, 193, 210+
Time frame: 1-2 months
Burger King India Ltd. engages in the operation of restaurant. It offers burgers, breakfast, cravers, beverages, and desserts. The company was founded on November 11, 2013 and is headquartered in Mumbai, India.