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THE INDIAN HOTELS CO. LTDTHE INDIAN HOTELS CO. LTDTHE INDIAN HOTELS CO. LTD

THE INDIAN HOTELS CO. LTD

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INDHOTEL trade ideas

INDHOTEL GOING FOR ATH?Hello Traders. Firstly Speaking of last posts PEL has achieved its first target on the same day and the trade is still running, ICICI bank is still consolidating but has neither hit the SL nor has given a significant move either side. Speaking of the current chart of INDHOTEL , It made a ATH after the Covid pandemic bans were lifted and has been in a bull run ever-since Now it's time for the tourism sector to boom according to me and hotels will be the major runners. By the way I don't do Fundamental analysis so speaking of technicals INDHOTEL made a ATH then consolidated and retraced in a declining channel which seen with it's previous move forms a BULLISH FLAG AND POLE PATTERN . Now it has retraced about 66% so it's looking ahead for a run for the upper marked targets and can also make a new ATH in coming weeks. FIB looks good MACD turning bullish RSI is at good levels. All required informations is on the charts, the orange lines are the level of buying for me whereas white lines are targets. Please LIKE, COMMENT and SHARE to motivate and support me. I'll keep on posting new ideas on Indices & Stocks. Any comments and critiques will be appreciated even if it's of opposite views as a trader can only be right so many times. P.S - The decline in INDHOTELS was not steep and abrupt but slow and steady which always looks good to me. And the channel is also broken now
NSE:INDHOTELLong
by this_is_shoaib
3
INDIAN HOTELS Indian hotels wave structure suggesting that wave (2) of wave 3 has been completed with healthy retracement levels, and now Wave (3) of wave 3 has been started, along with trendline breakout with good intensity of volumes too, with macd positive crossover and also uptick above zero line, one can go long at current levels or in dips (if any) with stop loss of 132, targets can be 180 plus. Wave Structure could be like this Key levels are mentioned on chart Breakout with good intensity of volume Price at upper band Very healthy retracement level Macd in daily positive crossover and Uptick and also above zero line Disclaimer I am not sebi registered analyst My studies are Educational purpose only Consult with your Financial advisor before trading or investing
NSE:INDHOTELLong
by RK_Chaarts