Trent Ltd. stock has given trendline breakout with good volumes which can also be seen as a flag pole pattern. Also, The stock has given a very good weekly closing.
The stock can be a good buy for intraday above 910.
Also, one can expect nearly 10% targets in a swing trade if the ATH levels are crossed.
This is just for educational purpose.
DATE: 11 MAY 2021
INSTRUMENT: TRENT
TREND: BUY
TIME FRAME: DAY
CMP: 763
BUY ABOVE: 763
STOP LOSS: 728
TGT 01: 821
DISCLAIMER:
We are not S E B I registered analysts. Please consult your personal financial advisor before investing. We are not responsible for your profits/losses whatsoever.
In TRENT, there was a down-trend. Now, down-trend is over and a new trend is getting established.
There is RSI Bullish Divergence in 1D Chart. Stock may come down a bit in short team (like next 1 week).
Overall, if the new trend establishes itself, stock may go up in mid-term.
# The sharp trended decline in TRENT seems to have completed, as the stock price has bounced up from the lower support of 700 levels in this week.
# We observe a formation of bullish hammer type weekly candle pattern in last week and upside bounce in this week which signal bottom reversal in the stock price around
700.
# We also observe a larger degree...
Trent CMP - 799.20
Looking bullish in higher time frame. One can go for Intraday Trade Setup with the following entry, exit & targets.
*Buy* At or Above 805.50 / Stop Loss 797
Target 1 - 810
Target 2 - 815
Target 3 - 820
Disclaimer: This is my view and for educational purpose only.
The above analysis is done purely on basis of Price Action & Chart Patterns.
The analysis is done on daily TF hence price may take few days to few weeks in order to reach the targets
Logic, Entry range, SL and Targets are shown in image itself.
The above analysis is purely for educational purpose. Traders must do their own study before entering into any trade....
