Nykaa
Updated
Trade Setup:
- crossed resistance of 210 INR and sustained on weekly basis (price trading at support levels).
- 20 EMA crossed (or is above) 50 EMA on weekly basis, and the EMA's are steep in upward direction.
- RSI > 50
- RS is positive (>0)
Buy price = CMP (215 INR). Add on drips until near 50 EMA
Stop loss = trendline
Target = 310 INR
- crossed resistance of 210 INR and sustained on weekly basis (price trading at support levels).
- 20 EMA crossed (or is above) 50 EMA on weekly basis, and the EMA's are steep in upward direction.
- RSI > 50
- RS is positive (>0)
Buy price = CMP (215 INR). Add on drips until near 50 EMA
Stop loss = trendline
Target = 310 INR
Trade active
Update: 25th Sep24
if you draw a Fibonacci retracement from top price (428 INR) to bottom price (114 INR), 61.8% coincides with our target price 2 (310 INR).
you can also book partial profits at 50% retracement level ie; 271 INR (as target 1).
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