Sharing weekly chart of Adiya Birla fashion here price action seems that it is breaking almost one year consolidation from parallel channel resistance and 100 also on weekly chart so by these kind of charts we can learn that price want to comeback in uptrend by breaking long consolidation, from the bottom volume bars also encouraging me for going a long trade in this stock so if i will got a weekly close above resistance which will definitely happen with above 100 Ema close on weekly chart. After execution i will update this trade and 235 below weekly close will be my stop loss for it.
NOTE- Only for Education Purpose.
Please Give A Like If You Like
Comment
⋅
Hello friends and now updating this idea as i published this idea on 4TH January after market close at the price of 246 and mentioned in idea description that i will update after execution of this trade so at the very next day it gives a close red close of minus 3.5% so there were no logic to take that trade which formed a big red candle on daily chart which already touched decided stop loss before taking a trade i think those who understand chart can understand better what i am saying sharing daily chart below
And now i will talk on weekly on weekly chart so the main focus i did for this idea on two things one is 100 ema second is parallel channel so on weekly chart there was also not a logic to go long in this stock sharing weekly chart below
Now i will update this idea again when all parameters described in idea matched