#DEVYANI TRADE IDEA SETUPGreetings Folks,
today i have prepared a setup on DEVYANI on NSE
the setup is as follows
- the price is trending at all time high
- the volume is contradicting the price
- there is an imbalance to be filled
- we will not time the market to look for sells
better wait for a proper bearish structure
- price broke the previous high with good volume
dont play with fire, always use predefined stoploss
DEVYANI trade ideas
Next Multi Bagger Devyani InternationalDear All,
Devyani International after completing its 1 complete cycle it has started a new bull cycle.Wave 1 (5 impulse waves) and Wave 2 (abc correction wave) on the bigger time frame has completed, which is confirmed by the new all time high breakout in the stock.
Its time to ride the trend.
Keep holding the stock. 1st Target is 800 !!
Cheers
Sid
DEVYANINSE:DEVYANI
WAIT FOR A STRONG CLOSE ABOVE THE TRENDLINE.
Note :
1.One Can Go long with a Strict SL below the Trendline or Swing Low of Daily Candle.
2. Close, should be good and Clean.
3. R:R ratio should be 1 :2 minimum
4. Plan as per your RISK appetite
Disclaimer : You are responsible for your Profits and loss, Shared for Educational purpose!
Upside play - Devyani intl LtdStock has given a good breakout from the IPO base in a very short span of time after which stock has formed a higher base and currently is in set up to breakout again. a nice pivot point has been formed between 175-190 zone in which previous supply has been absorbed and the stock ready to start a fresh move from here. Ideal level will be 190 to build a position with 20 points at Risk.
PS - Views are personal and just for education purpose.
DEVYANI - RESISTANCE BREAKOUT 📊 Script: DEVYANI
📊 Nifty50 Stock: NO
📊 Sector: Consumer Service, Restaurants
📈 Devyani was facing resistance at 175 level but It has break it.
📈 Crossover On MACD .
📈 Crossover On Double Moving Average.
📈 Right now RSI is around 67.
📈 One can take a swing trade on it.
🟢 Target 🎯🏆 - 194
⚠️ Stoploss ☠️🚫 - 166
⚠️ Important: Always maintain your Risk & Reward Ratio.
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Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes.