Just break 1 day time frame trend line and follow the basic rules of price action(after breakuout resistance become support) and they break their trend line from intial high!
Below 850 it can give good move downside, looking at Indian market sentiment it will break tomorrow itself. let's watch this level. just learning
In daily timeframe it has taken support at 850 multiple time.
Just Dial CMP - 623.35
Looking bearish in higher time frame. One can go for Intraday Trade setup with the following entry, exit & targets
Sell at or Below 618 / Stop Loss 628
Target 1 - 613
Target 2 - 608
Target 3 - 603
Disclaimer: This is my view and for educational purpose only.
stock broke triangle but couldn't make it and price came back to test level where it broke, notice volumes while falling (complete dried up) and now price stood with volume.
price is staying above 200MA, for me its clear retest and can be taken pullback trade .
Price is forming a beautiful triangle pattern . Take trades on either side of its breakout . Most possible scenario could be an upmove.
You shall get a clear picture of this pattern in 1hr time frame as well
This analysis is done purely on basis of price action and chart patterns
Analysis is done on Daily TF hence it may take few days to few weeks for price to reach the given target.
Stock is at good consolidation phase and it can be accumulated between CMP and 590 levels.
Trade Strategy as well as SL is given in the image itself.
Target levels are also mentioned...
