Triveni Turbine Ltd has formed double top pattern on daily timeframe. In today's trading section it has given breakdown of it's neckline and also gave closing. We might see a down side move in the stock in upcoming trading sections. The next immediate support for stock is 248 Rs level.
since from Mar/Apr 2020 Triveni Turbine moves in a definite channel pattern showing an space for appreciation, in my view, based on technical analysis.
stock is at upper trendline of channel (weekly time frame)
Volume also good
It is now at peak point ........just observe the price action and then take trade
Stcok has completed its breakout and retest routine
Strong structure is visible on weekly and daily charts with huge volume support on delivery side
Moving adead to ATH
Triveni has moved 9% today with good volumes.
CMP -122
target - 132
It depends how the market will move...last few sessions market has been trading in red. This is an idea, not advice to trade.
Triveni has broken out of what appears a wedge like pattern with good volumes..
CMP - 122.5
Target 1- 132
Target 2 - 146
Trade after doing your own research. Put a stop loss and trade. This is a small cap so please be cautious.
The weekly chart shows 3-week volatility or range contraction
One can initiate long above 104
Stoploss weekly close below 94
Targets 115 , 127, 147+
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