INDOTECH: short term target reachedNSE:INDOTECH has reached its short term target and is trading at its all time high range. After I last gave the pattern, there were more lower peaks and higher troughs.
INDOTECH trade ideas
INDOTECH - Symmetrical wedge patternNSE:INDOTECH stock has formed a symmetrical wedge pattern following a strong rally, indicating a potential continuation or reversal. Symmetrical wedges often signal consolidation before a significant price move. If the price breaks above the upper trendline, it suggests a continuation of the upward trend with a price target of 2450. Conversely, a break below the lower trendline could indicate a reversal, warranting a stop loss at 1600 to mitigate potential losses.
Trading Strategy:
Bullish Breakout:
Entry Point:
Consider entering a long position on a confirmed breakout above the upper resistance trend line, ideally accompanied by increased volume.
Target Price:
Measure the height of the wedge at its widest point and project it upwards from the breakout point.
Stop Loss:
Place a stop loss below the lower support trend line to manage risk.
Bearish Breakdown:
Entry Point:
Consider entering a short position on a confirmed breakdown below the lower support trend line, with accompanying high volume.
Target Price:
Project the height of the wedge downwards from the breakdown point for the target price.
Stop Loss:
Place a stop loss above the upper resistance trend line.
INDOTECH - Bullish SetuupStock name - Indo Tech Transformer Limited.
✅#INDOTECH trading above Resistance of 1688.
✅Next Resistance is at 2132.
✅Moved 33% in 2 weeks.
Weekly chart setup
Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined.
Master Score - B
Disclaimer: This is for demonstration and educational purpose only. this is not buying and selling recommendations. I am not SEBI registered. please consult your financial advisor before taking any trade.
INDOTECH - BULLISHStock name = Indo Tech Transformer Limited.
Weekly chart setup
Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined.
Master Score - B
Disclaimer: This is for demonstration and educational purpose only. this is not buying and selling recommendations. I am not SEBI registered. please consult your financial advisor before taking any trade.
Indotech TransformersFundamentally Decent,low PE Stock, L
Looking very good as the monthly golden crossover might happen anytime soon and there by breaking out of the Gann levels for the targets markets on the chart.
Delivered good results as well.
Safe entry above 588( which might happen during the golden crossover in a session or two)
symmetrical triangle short term opportunity for upsidesymmetrical triangle short term opportunity for upside take according to ur own analysis
Indotech 1 day time frame analysisIndotech shown breakout in daily time frame volumes are also good to go with keep a track of it.
Short Term BuyEntry 250
Exit 363
SL 202
Trade at ur own risk....This information is just for educational purpose
