Britannia forming Morning star Pattern at major support & Volume
Hi Traders,
Britannia forming Morning star Pattern at major support with good Volume.
Bullish View on stock due to below point:
1) Britannia has taken support at major support (22250-2400) ,which was major consolidation / support zone in Jan -Feb 2018 times. See chart for more detail.
2) It has form reversal pattern of morning star candlestick pattern with good volume.
What Indicator are says:
1) RSI out of oversold position & RSI above 40 will take stock out of bear control.
2) Stochastics RSI has make advance breakout , which tell bull control in near term. See chart for more detail.
Target :
T1 : 2620 (Book 50-70 % as per risk capacity) [Resistance 1 see the chart]
T2 : 2730 -2830 zone. [Resistance zone Area R2 see the chart] (Book remaining 20 % profit)
T3: 2930 zone [Resistance at 200 sma ] (Hold remaining 10 % & can add new position if stock sustain good period of time above 200 sma)
Strict Stoploss : 2300 low of Morning star pattern
Happy Learning );
Disclaimer : This is post only for educational purpose . Do your analysis before taking position or trading.
Britannia forming Morning star Pattern at major support with good Volume.
Bullish View on stock due to below point:
1) Britannia has taken support at major support (22250-2400) ,which was major consolidation / support zone in Jan -Feb 2018 times. See chart for more detail.
2) It has form reversal pattern of morning star candlestick pattern with good volume.
What Indicator are says:
1) RSI out of oversold position & RSI above 40 will take stock out of bear control.
2) Stochastics RSI has make advance breakout , which tell bull control in near term. See chart for more detail.
Target :
T1 : 2620 (Book 50-70 % as per risk capacity) [Resistance 1 see the chart]
T2 : 2730 -2830 zone. [Resistance zone Area R2 see the chart] (Book remaining 20 % profit)
T3: 2930 zone [Resistance at 200 sma ] (Hold remaining 10 % & can add new position if stock sustain good period of time above 200 sma)
Strict Stoploss : 2300 low of Morning star pattern
Happy Learning );
Disclaimer : This is post only for educational purpose . Do your analysis before taking position or trading.
Dagangan aktif
Entered Long today as per trading plan mentioned above.
Penafian
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.