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tanya151181
Aug 14, 2023 3:32 PM
Will history repeat itself?
NSE:BOMDYEING
1M
BOMBAY DYEING &MFG
NSE
Description
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Aug 14, 2023 3:32 PM
Bombay Dyeing has a very strong support line (purple) from where the price always bounces back.
The blue line (140.5) is a strong resistance zone. In 2017 the stock gave a good monthly trendline Breakout.
Now same price action is repeating itself in 2023 with a monthly trendline formation. Price will move fast in either direction from the zone.
This idea is purely educational as we are yet to see how price behaves when it reaches this zone. Just keep this set-up on Radar!
Learn & Earn,
Dr. Tanya Kumar
Chart Patterns
Comments
Knox1411
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Aug 15, 2023 7:01 PM
ON 1M Time Frame ,
The Neckline of Double bottom pattern is at 140.45
I think after closing above this Level on a daily basis,
We can initiate the trade,
And On a 1D Time Frame
Stock is trading within the rising wedge chart pattern.
Very Impressive Find and chart analysis.
I HOPE HISTORY REPEAT ITSELF.
tanya151181
⋅
Aug 15, 2023 7:08 PM
@Knox1411
thanks 😊
More
The Neckline of Double bottom pattern is at 140.45
I think after closing above this Level on a daily basis,
We can initiate the trade,
And On a 1D Time Frame
Stock is trading within the rising wedge chart pattern.
Very Impressive Find and chart analysis.
I HOPE HISTORY REPEAT ITSELF.