Nestle India Ltd - Triangle Breakout - Long

Hi Guys,

Please find the analysis:

Script Name: Nestle India Ltd
Trend : Uptrend
EMA: Bullish
ATR Volatility: Flat
Time Frame Analysis: 1Hr / Daily
Candlestick Pattern:
Whether any Trend Reversal Pattern? Hanging Man
Candlestick Pattern was support with good volume? No
Chart Pattern:
Flag Pattern / Triangle Pattern
Breakout Happened with good volume? – Yes
Before Breakout Buildup (Consolidation) was happened? Resistance
Retest Happened? Not Yet - Awaited
Trend Analysis:
Support: 16037
Resistance:17979
Buy Price: 17735-17740
SL: 17320
Target: 18855
Risk: 420
Reward: 1115
Ratio: 1:2.65
Whether Trade is Favorable or Not? Favorable

1hr Time Frame:

Regards,
Thenali Views
Disclaimer: Kindly do your own analysis before executing the trade.