EDELWEISS FIN SERV - Ascending Triangle with GOLDEN CROSSOVER
In EDELWEISS FIN SERV , A fine ascending triangle pattern is formed. It has already given a breakout from the resistance level with good volumes.
A good amount of accumulation has been observed with the help of volume profile which suggests that strong hands are making positions in the stock. So, we can expect a good move in EDELWEISS FIN SERV. The stock has given a Golden Crossover on a Daily Time Frame.
Currently the stock is trading above the resistance level and might face a rejection at 200 EMA on weekly time frame. But as we can see, the resistance of 87 has now become a STRONG SUPPORT. Hence, we will place our SL below the level. According to pattern projected, initial target in between 134-137. Partial profit booking should be done at this level.
If the stock is able to sustain above 138, then we can expect to see 203 as our next target.
Feel free to comment your doubts. I will be more than happy to clarify them.
Thank You,
Keshaw H. Agarwalla
Happy investing! :)
A good amount of accumulation has been observed with the help of volume profile which suggests that strong hands are making positions in the stock. So, we can expect a good move in EDELWEISS FIN SERV. The stock has given a Golden Crossover on a Daily Time Frame.
Currently the stock is trading above the resistance level and might face a rejection at 200 EMA on weekly time frame. But as we can see, the resistance of 87 has now become a STRONG SUPPORT. Hence, we will place our SL below the level. According to pattern projected, initial target in between 134-137. Partial profit booking should be done at this level.
If the stock is able to sustain above 138, then we can expect to see 203 as our next target.
Feel free to comment your doubts. I will be more than happy to clarify them.
Thank You,
Keshaw H. Agarwalla
Happy investing! :)