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kalyanganguly
Oct 8, 2020 5:22 PM

CADILAHC - W pattern bullish breakout Long

Description

Note: This is for educational purpose only.

There seems to be W bullish breakout with high volume. There seems to be a breakout in RSI as well. RSI above 70 indicates bullish momentum. However, RSI indicates overbought so there might be a consolidation.
Comments
Mavenvest
Agreed with the analysis. Where would you enter and with what SL? Also on monthly chart, there seems to be resistance at 440. Agree?
kalyanganguly
@Mavenvest, i have already entered around 439₹. SL is 419₹. Agreed there is a monthly resistance at 440₹ however, based on the buying volume, I am expecting price to break 440 level.
Mavenvest
@kalyanganguly, Thanks much
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