IFB Industries has given a recent trendline breakout as well as breakout from a W pattern formation in Weekly and Daily charts.
This makes it bullish for in short term.
Entry-EXIT can be done as below:
BUY around 1260-1250 during retracement or RISKY traders can start accumulating above 1316
SL: 1220 below
Targets: 1399 as first target, a breakout with good volume above can take it to 1500+ levels
Risk-Reward ratio: 1:3+
Don't forget to keep revising SL once in profit.
** This is a good time for IFB considering festive season sales as well.
This makes it bullish for in short term.
Entry-EXIT can be done as below:
BUY around 1260-1250 during retracement or RISKY traders can start accumulating above 1316
SL: 1220 below
Targets: 1399 as first target, a breakout with good volume above can take it to 1500+ levels
Risk-Reward ratio: 1:3+
Don't forget to keep revising SL once in profit.
** This is a good time for IFB considering festive season sales as well.