Lemon Tree Hotels is painting a classic bullish chart on the daily timeframe. Here's the quick breakdown:
The Setup:
✅ Strong Uptrend: Price above all key EMAs (9,20,50,200) in perfect bullish sequence.
✅ Breakout Confirmed: Cleared the crucial ₹164 Fibonacci resistance with a strong green candle on high volume.
✅ RSI at 69 is strong but not overly extended, suggesting room to run.
Levels to Watch:
🎯 Next Target: ₹194-195 (1.0 Fib Extension)
🛡️ Key Support: ₹163-165 (New support + 9EMA). Hold here keeps the uptrend intact.
My Plan:
LONG on any dip near ₹165 support.
Stop Loss: Below ₹163
Target: ₹194
The trend is your friend! As always, manage your risk.
#TechnicalAnalysis #StockMarket #NSE #LEMONTREE #Breakout #TradingSetup #Investing
The Setup:
✅ Strong Uptrend: Price above all key EMAs (9,20,50,200) in perfect bullish sequence.
✅ Breakout Confirmed: Cleared the crucial ₹164 Fibonacci resistance with a strong green candle on high volume.
✅ RSI at 69 is strong but not overly extended, suggesting room to run.
Levels to Watch:
🎯 Next Target: ₹194-195 (1.0 Fib Extension)
🛡️ Key Support: ₹163-165 (New support + 9EMA). Hold here keeps the uptrend intact.
My Plan:
LONG on any dip near ₹165 support.
Stop Loss: Below ₹163
Target: ₹194
The trend is your friend! As always, manage your risk.
#TechnicalAnalysis #StockMarket #NSE #LEMONTREE #Breakout #TradingSetup #Investing
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