As seen on the chart a bullish harmonic pattern is formed.
Post the low the stock has been in a range forming bullish candle patterns.
On Bollinger band we can see an inside - outside bottom.
and support on the RSI is a cherry on the cake.
The volumes have been low on the last candle hence a small dip to 2750 could be possible
which can be use as a buying opportunity.
The low of the pattern 2680(approx) a close below that can be the stoploss for this trade.
Targets for the trade
38.2% retracement - 3030
50% retracement - 3130
61.8% retracement - 3230
Traders who can ride this further should look for targets at 3500 and 3700
Analyst
Abhay Bhatia
Post the low the stock has been in a range forming bullish candle patterns.
On Bollinger band we can see an inside - outside bottom.
and support on the RSI is a cherry on the cake.
The volumes have been low on the last candle hence a small dip to 2750 could be possible
which can be use as a buying opportunity.
The low of the pattern 2680(approx) a close below that can be the stoploss for this trade.
Targets for the trade
38.2% retracement - 3030
50% retracement - 3130
61.8% retracement - 3230
Traders who can ride this further should look for targets at 3500 and 3700
Analyst
Abhay Bhatia