NESTLEINDIATrade entry: after breaking the triangle's lower border .either with an entry
after confirming the breakout, or after a -possible- retest to the lower border's rate.
Take profit: identified by measuring the vertical distance from the first touch (1) to the
second touch (2), that measurement is then applied from the breakout point
Stop loss: can be the triangle's lower border that turned into suppor
NESTLEIND trade ideas
NestleInd, BreakoutThe stock broke out of the resistance formed at around 7960-70. Then a steep rise followed. This is what happens when a resistance is taken in most of the cases. Then price pulled back due to profit booking. And bulls jumped into long positions. Price is again at resistance point. 9209 is a strong resistance.