NDTV is a good momentum stock that has shown quite bullish momentum today.
Stock has given the Breakout today. but came back to the zone, by looking to the bullish force today we can go for buying with good risk and reward of 1:5 setup. All levels are marked on chart.
Reason:
Verdict:
Breakout successful, Strong bullish momentum
Plan of action:
Buy: 224.45
Stoploss: 212
Target: 277
Stock has given the Breakout today. but came back to the zone, by looking to the bullish force today we can go for buying with good risk and reward of 1:5 setup. All levels are marked on chart.
Reason:
- Trendline breakout with nice bull momentum.
- RSI has a nice spike from oversold to bullish reason.
- RSI trendline breakout.
- High spike of Volume, shows bulls are overpowered.
- Price > VWAP that shows the bullishness.
- Good consolidition of more than 3 months.
Verdict:
Breakout successful, Strong bullish momentum
Plan of action:
Buy: 224.45
Stoploss: 212
Target: 277
