LEMONTREE trade ideas
Lemon Tree Hotels - Long - above 65Buy Lemon tree hotels above 65 (CL)
Target 1 : 75.90
Stoploss : 61.5
Lemon Tree Hotels With Ladder Retrace BreakLemon tree retraced 30-50% and re-entered 30% level.
Unfortunately this also qualifies as weak break, the red resistance needs to be broken to say that Lemon tree has got successful break from Ladder retrace.
By the way SL can be maintained on 83 which is quite cheap, so one can go for it.
Stage 1 consolidation Breakout. Entry@86Lemontree has broken out on heavy volume. I have added a small position to see how the stock moves, will be gradually adding more if it works in my favor. March 19 annual earnings will give us more clarity on the financials as well. qoq earnings growth is not the greatest, I have bought the breakout on the onset of a fresh buying seen in Midcap and Smallcap, what looks like a new rally in the market induced by fresh buying by the FII's.
