SPEL LONG TRADE (SECOND STRIKE)
SPEL went into uptrend with a Spike in July 2024. Making a high of 56, it pulled back in Wyckoff Re-Accumulation for months. Now it is in upward reversal as indicated by Volume Distribution. Price is trading above EMA-20. It showed a healthy pull back and now resuming its uptrend journey. During this progression, it has made an Axial Line on Day TF, which is a low-risk spot to enter the trade.
🚨 TECHNICAL BUY CALL – SPEL🚨
BUY1: 45.14
BUY2: 43.5
BUY3: 42.6
📈 TP : Rs. 51.86
📈 TP : Rs. 57.27
🛑 STOP LOSS: BELOW Rs. 39 (Daily Close)
📊 RISK-REWARD: 1:2.9
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.
PLEASE BOOST AND SHARE THE IDEA IF YOU FIND IT HELPFUL.
SPEL went into uptrend with a Spike in July 2024. Making a high of 56, it pulled back in Wyckoff Re-Accumulation for months. Now it is in upward reversal as indicated by Volume Distribution. Price is trading above EMA-20. It showed a healthy pull back and now resuming its uptrend journey. During this progression, it has made an Axial Line on Day TF, which is a low-risk spot to enter the trade.
🚨 TECHNICAL BUY CALL – SPEL🚨
BUY1: 45.14
BUY2: 43.5
BUY3: 42.6
📈 TP : Rs. 51.86
📈 TP : Rs. 57.27
🛑 STOP LOSS: BELOW Rs. 39 (Daily Close)
📊 RISK-REWARD: 1:2.9
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.
PLEASE BOOST AND SHARE THE IDEA IF YOU FIND IT HELPFUL.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.