Scrip has been trading in a channel or consolidation phase since 90 days and some positive signs can be seen for scrip to breakout after double bottom reversal hence, planning to enter after confirmation
Bullish momentum sign
1) MACD - MACD is above zero with bullish crossover, which signals upward momentum
2) %william - Consolidation between "overbought" situation however, consolidation/accumulation needed for further rise
3) Volume surge which is sign of more buying around 52-week low-support henceforth, regaining bullish momentum
SL as per risk appetite
TP aiming towards TP1 - short duration call and then, 52-week high (211) - long duration
Bullish momentum sign
1) MACD - MACD is above zero with bullish crossover, which signals upward momentum
2) %william - Consolidation between "overbought" situation however, consolidation/accumulation needed for further rise
3) Volume surge which is sign of more buying around 52-week low-support henceforth, regaining bullish momentum
SL as per risk appetite
TP aiming towards TP1 - short duration call and then, 52-week high (211) - long duration
Commentaire:
TP1 crossed and now certain that it can touch 52-week high after posting good Q2 results