A long term Triangle formation can be seen in the weekly chart of Bhel.
Breaking out would be a profitable venture.
The recent volume shows a heavy accumulation.
Entry - 38.5
SL - 30
Target - 57
Risk: Reward - 1:2
Breaking out would be a profitable venture.
The recent volume shows a heavy accumulation.
Entry - 38.5
SL - 30
Target - 57
Risk: Reward - 1:2
Comment:
A week after the above post the breakout occurred and closed above 38.5. If it sustains the level, then it would go higher.
Trade active:
Trade closed manually:
The first target reached 56. Closing the idea. Thanks!