IBLHL LONG TRADE (IBL HEALTHCARE LTD)IBLHL was in a Trading Range/Channel since start of 2023 – touching the channel top last Dec and entering into a pullback/corrective channel which is actually a Bull Flag. It broke out of the channel and retested it, confirming an upcoming uptrend and momentum. Now it is ready to breakout its Trading Range Channel of 2.5 years and Volume Distribution statistics confirm this possibility. It has been posting HHs and HLs – price action above EMA-20 – what a striking plausible long trade in coming days! (INSHALLAH)
🚨 TECHNICAL BUY CALL – IBLHL 🚨
🎯 BUY ZONE: Rs. 43.64-48
📈 TP1 : Rs. 53.9
📈 TP2 : Rs. 62.5
🛑 STOP LOSS: BELOW Rs. 39.5 (Daily Close)
📊 RISK-REWARD: High Conviction | 1:4.78
Caution: Please buy in 3 parts in buying range. Close at least 50% position size at TP1 and then trail SL to avoid losing incurred profits in case of unforeseen market conditions.
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