Over the past 14 years, the price has been moving within a rectangular channel pattern. It goes up and then comes back down to a support level, creating a significant demand and supply zone.
Currently price trading at 25% down from its all time peek. As visible price has formed another parallel channel pattern inside the bigger pattern. It seems all set to give a breakout in daily timeframe.
If the price breaks out with high trading volume and stays above the line, it's a good signal to start trading. We can go long (buy) and aim for at least a 18% gain from our entry point.
Buy- 79
Targets- 94, 96.5
Stoploss- 74
Please note I am not SEBI registered. Do consult with your Finance adviser before investing.
#SwingTrading #technicalAnalysis
Currently price trading at 25% down from its all time peek. As visible price has formed another parallel channel pattern inside the bigger pattern. It seems all set to give a breakout in daily timeframe.
If the price breaks out with high trading volume and stays above the line, it's a good signal to start trading. We can go long (buy) and aim for at least a 18% gain from our entry point.
Buy- 79
Targets- 94, 96.5
Stoploss- 74
Please note I am not SEBI registered. Do consult with your Finance adviser before investing.
#SwingTrading #technicalAnalysis
İşlem aktif:
After triggering our entry, it retraced back. However, after a couple of days of accumulation, it has finally shown a great move today, breaking out of its trend line with significantly higher volume. It is currently up by 6%, and I'm aiming for substantial gains in this stock.
Here is my Apology, I accept that the entry level should be higher then I have anticipated earlier in this trade. But our set up was quite convincing and strong after all that eventually made our trade successful.
Here is my Apology, I accept that the entry level should be higher then I have anticipated earlier in this trade. But our set up was quite convincing and strong after all that eventually made our trade successful.