Buy - 88
CBSL - 82
Target - 101
Jindal Saw had a descending channel breakout recently, It is on the verge to break the Double Bottom.
Go long if it breaches previous day high.
As per Fibonacci(Weekly Chart), it may retrace till 101.
1. ENTRY : 86.15 ( Closing above the neckline )
2. Minimum Price Target : 102.80 ( Adding the difference between highest high made and lowest low during the formation to The Neckline )
3. Stop loss : 70 (Usually, price closing below the second bottom is a stop-loss.)
1.maintaining the long tendline support and also the median pink line of the pitchfork
2.Bullish reverse divergence on RSi
3.Red levels mark the weekly resistances, blue is the pivot and green level is the resistnce
4.the last time the bullish divergence fuelled the price upwards to be halted by the blue 618line of the pitchfork, likely to be ...
Stock has retrace from its breakout level i.e. 107. My concept is when stock is retesting its breakout level and didn't go down from that level then it is true confirmation for positive up move. Considering this theory i would i to enter in stock at cmp 117 for long term.