Trade ideas
BIFO WEEKLY LONG POSITIONA bit medium to long term perspective. Projection marked at the end of the Triangle's intersection for now, plz note. Accumulation going will take some time to materialize. keep fingers crossed.....
Lets c how it plays further
Are you seeing BIFO next Upper cap?BIFO has already shown bullish divergence and formed an Inverted Head and shoulder pattern. On the breakout of Resistance, it can make a fine move.
Are you seeing it next Upper cap?
BIFO having over 50% gain potentialThe stock can be accumulated at these levels with SL around 120. Its is being retraced and likely to test its Bullish pennant breakout level of 146.08 which will be over 50% retracement against the recent High, if retraced till 62%, the downside could be Rs. 138. So it should be accumulated between these levels.
Safe side traders should enter the trade at its previous HH of 195 for the next expected level of 240+
Entry at these level with SL of 120 will make first TP of 200 with RR of 1:1 and for 1:2 TP2 would be around 240
Bullish Divergence on Weekly TF.
Sustaining 142 - 143, may lead it
towards 165 -170.
On the flip side, immediate support
seems to be around 126 - 129 & then
around 112 - 113.
