TV18 broadcast - Bullish trade
Stock gave a more than a decade long breakout above 70 levels, stock price touched 83 after breakout and now doing a retracement with market correction. I think stock is in clear uptrend and one should identify buying opportunities in such type of stocks.
Stock buying range is marked on chart between 62-71, buy in this range and we will review at 90 levels. Second possible target could be 114. Good thing is that these levels are also supported by Fib retracement, I am removing Fib retracement from chart for better visibility. Volume increase also boosts a confidence in this trade.
Trend is intact until a weekly closing comes below 56 levels. Stock is high beta and market is volatile, next immediate support to watch will be 46 on weekly closing basis. I hope this level doesn't comes but nothing is guaranteed in stock market, All we can do is analysis and hard work.
Stock buying range is marked on chart between 62-71, buy in this range and we will review at 90 levels. Second possible target could be 114. Good thing is that these levels are also supported by Fib retracement, I am removing Fib retracement from chart for better visibility. Volume increase also boosts a confidence in this trade.
Trend is intact until a weekly closing comes below 56 levels. Stock is high beta and market is volatile, next immediate support to watch will be 46 on weekly closing basis. I hope this level doesn't comes but nothing is guaranteed in stock market, All we can do is analysis and hard work.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.