Idea # 43 : Indo Count (NSE: ICIL ) on daily chart for 23rd July 2020. Please do like and share the idea in case you find it good and follow it for further updates on it. for benefit of everyone. Also, please comment if you have any feedback. This idea by onerighttrade team is only for study purpose and is not a trading call.
Breakout done
weekly - marubozu
buying area - 60-62
levels to show given
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INDO COUNT INDUSTRIES LIMITED....Good Time to Enter this Stock...
Rounding Bottom Pattern and a Breakout Indicates Stock will see Great Moves in the Days to come.
Entry : 53
Tgt 1 : 72
Tgt 2 : 93
Tgt 3 : 113
Stop Loss : 47
AFTER THE LONG DOWN TREND..LOWER LOW LOWER HIGH ICIL INDICATE TRAND REVERSAL WITH HIGHER HIGH HIGHER LOW
IF THE TUCH 55 AND SUSTAIN ABOVE 50 AND BETWEEN 52-53 THEN MADE INVERTED HEAD & SOLDER PERTTEN
TARGET : HOLD FOR LONG RUN
SL : 39.90
As per my wave analysis, it seems there is a good potential for BUY in this stock..
Let the price BO the white TL with a large candle and close above the TL and then buy on a small flag in 1HTF..Till then do not buy.
Will keep you updated..
IndoCount industries starting a fresh Elliott wave cycle.
- Stronger USD will support the companies profit
- Good monsoon will decrease the cotton price, which will have positive impact on the company
