There is a buying opportunity ahead in the stock with a limited risk. The stock was trading high from the past few months. In each move upside we have seen the stock retracing, on each retracement the stock has crossed its previous time high with strong buying pressure.

Recently the stock has retracted and again buying pressure was seen in the stock. We are expecting this move to continue and the stock to test new highs.

In 5 days the stock is trading between 400-412, If the stock closes above 412 for a single day we will start buying the stock with a SL of 370 on closing basis for a tgt price of 470-520

The RSI is following the price and we expect the same to do so, If the stock closes above the EMA we will get another confirmation for buying.

Advice : Buy only if the stock closes above mentioned level.

Illumina

Oct 15 2021