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pradipandsuvra
Oct 20, 2022 4:15 PM

Anant Raj: Uptrend channel 

ANANT RAJ LTDNSE

Description

NSE:ANANTRAJ is a perfect Swing Trading opportunity as of now. The chart patten has the following features:

  • It is in an upward trending channel, shown as blue channel in the picture
  • Current price-action is in the upper half of the upward channel.
  • The price-action can be viewed as a Cup and Handle patten also, shown as green color curves with a blue dotted neckline. The neckline corresponds to upper channel.
  • One may argue: It's a Pole and Flag patten. So a potential breakout is possible.


Current range:


* Resistance: 117
* Supports: 104, 92.

Recommendation: Swing trade inside the channel. The swing ranges are: 92 <-> 104 <-> 117.
Breakout above 118. (Check volume also)
Breakdown below 92. (Check volume also).




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