Intellect Design Arena Ltd. - Up-Flag on DAILY Chart
Intellect Design Arena Ltd. is in an uptrend. The counter was in a consolidation since 1st April 2021. This consolidation was preceded by a rally. The price gave an upward breakout on 6th May 2021 and closed at Rs. 794.15. This breakout has massive volume support. This has formed the price pattern known as Up-Flag. I anticipate the price target of Rs.1,030 and suggest stop loss at Rs.746 to be followed for the first four daily candles starting from 7th May 2021. Thereafter, the profit booking/ exit decision should be based on achievement of the price target or downward crossover of 26 EMA by 5 EMA whichever happens earlier.
NOTE: This idea is an attempt to predict future price movement. Investment decision based on this idea, if any, shall be at the sole risk of the investor.
NOTE: This idea is an attempt to predict future price movement. Investment decision based on this idea, if any, shall be at the sole risk of the investor.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.