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digijagan
Apr 3, 2024 4:33 AM

Ascending triangle pattern on SHRIRAMFIN Long

SHRIRAM FINANCE LTDNSE

Description

SHRIRAMFIN formed an ascending triangle pattern on daily chart and broke out of the pattern today. With multiple support and resistance tested, appears to be a bullish breakout. Stoploss can be held just below the breakout candle with target the size of broader edge of triangle. You could trail stop loss with either 2 ATR (Average True Range) or 10 EMA (Exponential Moving Average).

Hope you like this analysis. Please boost this idea if you like it or leave a comment below on what you think. Otherwise happy trading :-)
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