IDEA trade ideas
IDEA - Long or Short - WatchIdea is in uptrend in line ot market and facing strong resistance currently.
Once sustains above 12.65 - clear utrend can be seen with good return.
However incase if market correction in next couple of days - strong Buy/Entry above strong support 8
Watch / add to to watch list
Above 12.65 - > 17.15 / 20.65/23.2 / 27
Downside - if not able to sustain the current levels - next target will be 8.05
Target for Idea is at Rs. 11.40 for December 2020Voda-Idea has strong volumes and we will see this stock touching Rs. 11.40 and will change the trend after or around 17th December 2020.
Rs. 11.40 target for December
14% Profit return in one month
If this happens then new support should be around Rs. 10.70
Idea CMP 10.10, UpdateIdea -CMP 10.10, It is trying for breakout for few days. It has crossed tripple top on closing basis at 9.95 and yesterday it closed with huge volumes on upward trend. Even OI rise of 10% in futures is an indication of building of long positions. ESI is trading above support and MACD is about to cross its signal line both are positive indications. Chart pattern it made cup pattern between June and Sept. Now it is trying to make similar pattern again. It is going to go up soon with targets of 10.35, 11.1, 11.7, 13 with a SL of 9.5. It is purely for educational purpose and any investiment shall be made after consultation with financial adviser.
Vodafone Idea CMP 9.85.Vodafone Idea- CMP 9.85. Today at closing it closed positive. Today cash volumes are also almost double the previous 3 days average volumes, also future OI rise is also at healthy 8% with price rise. This indicates formation of longs in the counter. Recently it has touched 20EMA line and reversed from that level which is also a healthy indication. RSI is also showing positive divergence. MACD line also is making an attempt cross signal line which is also positive and bullish sign. On charts also it is trying to breakout the recent resistance at 10. If it successfully closes above 10, then it can go to 11.1, 11.7, 12.35. It is for educational purpose only.