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madhusudhan237
Jul 15, 2021 9:17 AM

Kaveri seed company Long

KAVERI SEED COMPANNSE

Description

Trade setup:
Monthly - Classic breakout pattern. Broke out of ascending triangle, multi-year breakout of trend line, retest and zoomed up. Took support at 50EMA (confluence).
Daily / Weekly - broke out of resistance zone (between 680 INR and 710 INR), retest and formed a bullish engulfing candle (daily), with pennant formation (daily).

Entry price = 745 INR
SL = below 680 INR
Target = 1000 INR (psychological barrier and ATH resistance).

Comment

SL protected by few points. My SL = 670 - 675 (below swing low).

Trade closed: stop reached

SL hit. Trade closed.
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