Technical analysis -
Trade set up -
*Go long at CMP and add more on dips. All is good until stock closes below 128 level. I am keeping few extra rs as margin of safety.
Targets are big. First potential target is 158 followed by 192. If 192 breaks then a big rounding bottom formation will happen and you can trail your sl to achieve big targets.
Good luck.
- Stock has been in a downtrend from very long time, we can clearly see series of lower highs & lower lows.
Stock broke the neckline of previous high and did a retracement.
Double bottom formation with clear RSI divergence is visible on daily chart. I personally prefer to upload weekly/monthly charts here in tradingview to give a broader understanding of chart pattern, but i have checked daily chart as well.
Trade set up -
*Go long at CMP and add more on dips. All is good until stock closes below 128 level. I am keeping few extra rs as margin of safety.
Targets are big. First potential target is 158 followed by 192. If 192 breaks then a big rounding bottom formation will happen and you can trail your sl to achieve big targets.
Good luck.
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.