Trade rationale

RSI

COMBINATION OF RSI, 200 MOVING AVERAGE and channel Formation Entry= 535 1st Target= 554 stoploss =516 Prices have taken support numerous times on 200 ema on daily chart. There is a positive divergence in 60 mins chart during channel formation signaling a likely movement on the upside. will book half qty at 1:1 R:R , and will trail the rest as it can be a good swing trade as well