The daily chart of Advani hotels and resort with 2 year trading data with volume information has been chosen for the Dow theory analysis.
As the first step, the major tops were identified and marked. Then each top / bottom were qualified as Lower Top (LT), Lower Bottom (LB), Higher Top (HT) and Higher bottom (HB) with reference to their previous Top /Bottom.
The sequence of Higher Bottom (HT) and Higher Top (HT) indicates the trend is Bullish and the similar trend was identified in the selected chart. Also it is supported by High volumes.
The trade: Long Position
Entry : Rs. 54 (with volume support)
Stoploss : Rs. 50 (The recent LT)
Target : Rs. 60 (1:1 ratio)
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