Pleasure to have you here. in this 15 minutes chart, the chart has been slightly in uptrend and based on the technical analysis have prepared a small intraday setup.
if you like the idea please like the post :) It will be a motivation to further such ideas.
Note:- 1) This is just an intraday analysis setup and no advice to trade.
2) If you are making position,...
Major points of analysis and decisions -
1. Trend pattern upside
2. Stock is at the below of trend channel
3. Doji formation at the bottom after many red candles showing an indecision among sellers or weakness in sellers
5. Strong long tail doji
6. RSI 50
If I have to buy this, I will buy at 97.75, will keep a stop loss of 1 rupee that is 96.75 or so
And target will be 100
Quick Summary of Analysis -
Risk to reward 3:1
RSI 50 with a small upward move which is not so strong but have potential to reach 70 and hence can reach our target price of 70
Reason for keeping SL so near is that in MACD, the...