INDIAMART trade ideas
IndiaMart symmetrical triangle / Wedge pattern breakoutSymmetrical triangle / Wedge pattern breakout
Breakout candle with high volumes
SL 7920
Target 9700-9900
On higher time frame (weekly)
Stock has formed a higher high higher low structure.
Now the stock has started to move with high volumes, new swing is starting.
PERFECT ENTRY AND EXIT SETUP IN INDIAMARTThe chart is self explanatory
Entry levels : BUY on opening
Exit Levels : 10000/10500/10700 ( LENGTH OF THE POLE AND 1.618 FIBONACCI RATIO)
Disclaimer: This is not a BUY/SELL recommendation shared just for educational purpose.
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Till then,
HAPPY TRADING :)
INDIAMART INTERMESH LTDIndiamart, this stock has completed consolidation period as wave 4 in weekly, and now it is in wave 5, in wave 5 also possibly it has completed wave I and II in lower degree (daily), and now given breakout with good intensity of volume from it, it seems that wave III has been started, along with positive macd trend indicator in weekly and daily uptick, all other indicators are also suggesting positive trend ahead, one can go long at current levels or in dips ( if any ), with mentioned key levels on chart.
breakout candle with volume, key levels are mentioned on chart
wave structure in weekly could be like this
macd in weekly
macd in daily
rsi in daily
dmi adx in daily
near bbc in weekly
above mid.band in daily
Disclaimer
I am not sebi registered analyst
My studies are for educational purpose only
Consult your financial advisor before trading or investing
INDIAMART INTERMESH THE MESH SIZE IS BECOMING BIGGERDISCLOSURE
This is only for educational purpose
This is not a recommendation
I am not SEBI registered
Do not TRADE/INVEST basis what I publish here
I am not responsible for your loss or gain
It is prudent to assume that I have ulterior motives in publishing this Idea
I and my clients might or might not have a position, I and my clients might or might not have a opposite position
VIEW :-
I might be pre emptying this and in hindsight I might look like a fool or a fortune teller ... in any case I could visualise a pattern there ... kept it for your all to see
INDIAMART Note:
1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR.
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Keep an eye ladies and gentlemen. Cheers and Happy Trading