Category: Continuation
Key Highlights:
1. Bullish market structure on HTF
2. Tapped into the demand zone
3. Massive volume on the creation of the demand zone
Disclaimer: This is NOT investment advice. This chart is meant for learning purposes only. Invest your capital at your own risk.
Rajat Kumar Singh (@johntradingwick)
NSE Certified Technical &...
NSE:IFBIND broke a minor consolidation zone and is heading for a target of 1500.
Area of entry would be in between 1250 - 1300 and Stop loss can be 1100
Supporting factors
1. Huge Volume on Breakout
2. No Major Resistance until 1500
IFB Inds Cmp 1297 dated 22.10.2021
Weekly Chart:
1. Flag Pattern Bo @ 1250.
2. Increase in volume
Buy for a tgt of 1640-1700+ SL 1140
It is just a view, pls trade at your own risk.
Refer the chart for entry, sl and target. Breakout with a big green candle and high volume. Chart is self explanatory. Trade with proper risk management. Thanks. Cheers.
IFB Industries has given a recent trendline breakout as well as breakout from a W pattern formation in Weekly and Daily charts.
This makes it bullish for in short term.
Entry-EXIT can be done as below:
BUY around 1260-1250 during retracement or RISKY traders can start accumulating above 1316
SL: 1220 below
Targets: 1399 as first target, a breakout with...
Using multiple confirmations, different timeframes and by applying rules of price action over a chart let's one understand HOW THE PRICE BEHAVES!
Here is an example of buying a stock at the lows (Disclaimer: NOT THE ABSOLUTE LOWS)
Let's start with a Higher TF- Weekly'
The stock is in a formation of a price action pattern called CUP & HANDLE, where CUP is...
IFB Industries long Trade. The box pattern is broken today. You can find the flag pattern too. IFB Industries have good fundamentals and now technically looks strong. The targets are 1450 and 1650.
Target 1: 1450 (In 40 days or might be in this next week)
Target 2: 1650 (In 60 days)
Happy Trading!
Price - 1179.85 Dt. - 08.10.2021
Stock is consolidating near the support line placed at 1168.70. It tried to break this level twice before breaking successfully with higher than average volume. Stock is consolidating for the last 4 weeks and it looks like the stock is ready to resume the uptrend. RSI is strong and stock is above 21 DEMA and 50 DEMA.
