TradZoo

Symmetrical Triangle breakout in ADANIENT for Target of 373+

Long
NSE:ADANIENT   ADANI ENTERPRISES
Since the last few trading session, it consolidating in range by making Higher Lows(HL) and Lower Highs(LH). In today's session, we saw higher buying volume near the descending trend line it indicates the more chances of the breakout of this symmetrical triangle pattern and this stock will continue its bullish rally towards the 373+ target.

Possible trade:
Buy ADANIENT Above 361.50
Stop-loss - 358
Target 373+

This trade can give good risk-reward as 3:1(reward: risk).

Disclaimer: Before taking any position make sure you're doing trade by risk management. Also, Don't forget to take advise from your financial adviser.

Comments

Worth trying having done thorough technical analysis!
Reply
Its a good trade and simple description for trade.
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