Finntastic

Finntastic

Logic behind the Trade 1. Closing above 50 EMA 2. Consolidation breakout with big bullish engulfing candle along with heavy volume 3. Stopped making lows as trend line shows the consolidation movement was moving upward (big players were building orders) 4. RSI is 60 (shows strength in stock)

Finntastic

Reasons behind the trade 1. It has given a breakout post brief consolidation 2. Started making new higher lows 2. RSI has also started to show some strength (above 50 now), verdict - if you are a defensive or low risk-taker then one can probably wait for another re-test (if it gives a re-test) or one can enter with a small amount at current level

Finntastic

Everytime it touches the trend line it has shown good pullback from that level of atleast say 4% and right now also it is at an important level with a good bullish candle