Why I selected IGL for Swing Trade on 4H time frame.

IGL looks bullish on 4h chart.

Technical Analysis:

Candlestick Chart:
- Breakout of Triangular pattern.
- Breakout of Resistance at 436.
- EMA 20,50,100,200
+ Moving average lines expanded.
+ All moving average lines are arranged according to their position.

Renko Chart (Brick Size = 5)
- 4 Bricks are printed
+ First 3 bricks formed the base zone.
+ From the 4th brick it has entered in zone 1.

Conclusion:
We can take a long position from 430 to 440 with a stop loss of 415.

Disclaimer: I entered at 435 on a Renko Chart with Brick Size of 5 and I keep the stoploss at 430.

تعليق:

- 3 Green Bricks are constructed on Renko Chart of Brick Size 7.5
- Now the base zone is completed and the price tries to enter in zone 1
- Waiting for the breakout on the Candlestick chart.

تم فتح الصفقة:

Today Nifty50 is down by 1.18%

- Gives the breakout of resistance (436) and holds it.
- Closed at 436.60

Still holding my trade.

تعليق:

The price is testing its 20 periods moving average.

Renko Chart BS=5
We did not get any new solid brick.

No exit signal.
Still holding my trade.