Looks like a great breakout in the indian hotel counter which is already in an uptrend. Good chance that we continue to see the upward momentum as the stock is breaking out from another continuation pattern which has been marked as a rectangle.
INDHOTEL breakout from weekly consolidation area from the strong resistance of 405 with bullish engulfing in uptrend monthly channel. Next target is 469
NSE:INDHOTEL
Watch INDHOTEL long side trade. above 406+ maybe.. stop 374 target of 440+ min RR 1:1 .
Do your own analysis also.
Free stocks Free trade strategy.. short term swing trades
Intraday as well as swing trade
All levels given in charts ...
IF good potential seen then we work in options also
if activate then possible a good movement Keep eye on this ...
We take trade only when it activates...
Possible to give good target
TRADING FACTS
Ind Hotel Cmp 392 dated 28-7-2023
1. Rectangle Consolidation
2. Reversed from support
3. RSI reversal
Buy above 394 target 400-407-415-425-435 SL 377
It is just a view, please trade at your own risk.
INDHOTEL Stock trade nearby breakout level and also trade above the pivot level of R1 . Buy entry is once break and close above the price level 406 in one day candle.
Target price 445 TO 450
Stoploss below 375
All details are given on chart. If you like the analyses please do share it with your friends, like and follow me for more such interesting charts.
Disc - Am not a SEBI registered. Please do your own analyses before taking position. This post is only for educational purposes and not a trading recommendation
