>>Stock has been in an uptrend since last year.
>>Over one year, it has been following a special trend line.
>>Since January 2023, it has slightly changed its direction and is now forming a beautiful
symmetrical triangle pattern.
>>Today, it has reached its resistance level and appears promising to break it.
>>If it breaks the trend line, we can initiate positions with a 1:1 risk-reward ratio as explained in the chart.
>>PSU banks were in the limelight today due to their exceptionally good Q1 results.
>>CSB banks also performed well, suggesting a brighter future for this stock.
>>Over one year, it has been following a special trend line.
>>Since January 2023, it has slightly changed its direction and is now forming a beautiful
symmetrical triangle pattern.
>>Today, it has reached its resistance level and appears promising to break it.
>>If it breaks the trend line, we can initiate positions with a 1:1 risk-reward ratio as explained in the chart.
>>PSU banks were in the limelight today due to their exceptionally good Q1 results.
>>CSB banks also performed well, suggesting a brighter future for this stock.
Comment:
I managed to buy at 398 level today. We have two options in this stock, we either buy at breakout or at support. I always prefer buying at strong support level rather then waiting too long for breakout to happen.
Comment:
There was a typing mistake in a previous comment when talking about my entry point. It was actually at the 298 level. Currently, it is up by 5%. Now, it seems promising to show a trend breakout. If it does, I will consider increasing my position.
Trade active:
CSB has transformed itself into beast mode by giving a breakout of its ascending triangle pattern. As mentioned earlier, I have also increased my position in this. Happy trading.
