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
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...
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...
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3. Views given here is not a tip rather it is for educational purpose... Aftermarket...
