The above analysis is based purely on price action & chart patterns.
The analysis is done on 60 min TF, hence it may take price to reach the targets in few days to few weeks.
Trade setup along with Entry levels + SL & Targets are given in image itself.
Traders must do their own study before entering into any trade. They must trade with their own money & risk...
Consolidating in Flag and pole pattern. One breakout done then can go for TGT-2000,2500,3000
Keep SL as per your risk.
Note: All views are for study purpose only. Ask your financial planner for investment.
Consolidating in Flag and pole once breakout done then can go long for 2000,2500,3000
View ignored once pattern breakdown. Keep stoploss as per your risk.
Note: All views are for study purpose only. Ask your financial planner for any investment decision.
PLEASE SEE CHART FOR DETAILS
BUY IF SUSTAIN ABOVE : 1600
TARGET : 1800
STOP LOSS : 1570
**These are my personal observations. Please trade at your own risk.**
Mcx make it high on high and touch to its strong resistance so trader please aware of market in buying side risk to reward ratio is very less for sure to take sell position until it come to support
Trading activities are increasing during pandemic and commodities trading turnover are increasing on mcx . This is good for mcx .
Also technically it has given a clear close above breakout level on monthly chart.
I see minimum profit potential of 80% in short term for this stock
