DELHIVERY trade ideas
Delhivery Wkly - Reversal Zone1. Entry method could be based on confirmation through any method - I would wait for 1 Daily close inside the Blue Box (Daily Demand Zone & then Buy when Green candle close abv the Blue Box.
2. Wait for RSI Swing Failure or PD formation & Confirmation or more simple is to wait for RSI Counter Trendline Break on Daily Chart after PD formation on Daily or Hourly chart
Delhivery at reversal zone1. Entry method could be based on confirmation through any method - I would wait for 1 Daily close inside the Blue Box (Daily Demand Zone & then Buy when Green candle close abv the Blue Box.
2. Wait for RSI Swing Failure or PD formation & Confirmation or more simple is to wait for RSI Counter Trendline Break on Daily Chart after PD formation on Daily or Hourly chart
⭐️#DELHIVERY for a potential breakout !👉🏻Stock Trading above 20 & 50 EMA
👉🏻Price breaking a large base.
👉🏻Breakout above 400 Support 380
👉🏻RR Favorable for going long
Don't forget to hit that❤️for a like🔁for a share,and🔖for a bookmark!
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Delhivery: Reversal candidateAs seen in the chart, delhivery is currently trying to reverse it's trend from a bottom of 300.
350 has acted as a strong support and 400 is proving as a good resistance.
As per pattern, since the stock was in a long term downtrend, the zone of 400-350 can be considered as accumulation zone as the buyer's activity seems quite strong here.
A close below 350 can be considered as a stop loss for a positional mid-term trade.
More patient traders who are looking at a period of more than 6 months can place their SL below 300 and consider 300-400 as their accumulation zone.
NSE:DELHIVERY Looks BullishDisclaimer: I am not registered advisor, take your action after your personal analysis and taking advise from your professional registered advisor. Its just and idea shared, we are not recommending any buy or sell call for this stock.
Delhivery Ltd. is near its long term support, if breaks & close below 340 will make it more weak.
However, this stock is currently near all time low and good RR ratio is making it attractive for long term.
An attempt for buying is forming if 15 minute candle close above 356 Rs., later if crosses & close above 380 can be trail for long term.