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Price levels to observe.
intraday / swing
aggressive long entry at cmp,
safe entry above 1280
ultimate sl 1180
Price moves to observe.
Good possible pullback entry near 265-260
In terms of swings,
When point 2 is above 1
3 is below 1, and price reverses from 4,
connecting 1 to 3 and extending - creates possible support line
connecting 1 to 4 and extending - creates possible target line.
Price bounces from support line (point 5) and tries to touch the target line.
We should start plotting only after point 4 is clearly evident.
MAs and Fib levels supporting.
Price seems reluctant to stay below 200ma.
Possible price levels to observe.
Don't know about fundamentals and profits but
probably a good setup near earnings date.
Risky experimental long to observe.
Can add/carry position once upmove confirmed.
Hence small sl.
price levels to paper trade.
To observe -
long above 255-256 / t 262 + / sl 252
Swing short possibility to observe.
SL above today's high.
could 260 have been better entry ?
swing trade possibility
short term buy ?
naive student thoughts -
200 for inverted H&S
400 for cup & handle.
even with 100rs stop loss, RR will be 1:4
Contradictory details ?
1. price making lower high - lower lows
2. oscillators showing bullish divergence
sell on rise ?
experimental levels to observe