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HDIL - Double Bottom, Entry on breakout above 22, SL at 20 and target 24, 28
Frenzied rally on HDIL
HDIL:22 is showing a positive divergence after breaking the long term support
can make move towards 37 and on crossing this level can take the stock to 53.
An improved quarter can overturn the scenario from bearish to bullish till then it is a poor show.
It has been observed that the price action firstly breaking above the downward channel and now initiating to form a higher high and higher low sequence indicating a reversal in the price action.
As per my analysis, price action shall further move up to the below targets.
what do you want to do?
cmp : 54
Target : 57 -60
Duration : 7 days trade
Strict SL: 51.5
HDIL (NSE) for some time is trending in a rectangle and currently at a very strong support zone. It seems to be bouncing off it. It a good opportunity to go long. I am waiting for 1 day candle to close above 52. RSI shows a reversal however MACD is yet to cross over.
Three things to keep a note of-
1 day candle closes above 52.
MACD crossing over
RSI showing ...
last time at this price point HDIL printed a pin bar and moved to 66+ and this time again it has printed bullish marubozu, so i will go long tomorrow
Levels mentiond on the chart
resistence in our take profit. 65.01
One of the pattern that occurs very often is the range. One can trade it easily this formation using only price action without any help from indicators or other studies. Whenever the price breaks out of the range in either direction we can look for entry into the trade. There are 3 ways to enter marked in the chart.
1. Enter on the breakout.
2, Enter on the ...
buy above - 68, stop loss - 65, target - 85
riske:reward = 1:6
HDIL can be bought above 68 for a target of 76. Currently trading at 66 levels near to its resistance zones.
Based on Support;
Trade has already started, Can book at different FIB levels.
R1 R2 R3 R4 R5 R6
75 78 81 85 88 92
S1 S2 S3 S4 S5 S6
67 65 61 57 55 51
Big Moves Ahead - Long HDIL
cmp : 62
Target : 68 +
Strict SL : 59
Duration : 15+ days