Elecon Engineering Ltd.- Ascending Triangle Flag on Daily Chart
Breakout Candle: Daily candle dated 13th August 2021
Breakout Candle Close: 161.90
Anticipated Price Target: 200
Suggested Stop Loss on daily closing basis: 155 (for the first 4 daily candles starting from 12th August 2021). Thereafter the book the profit/ exit on attainment of the price target or downward crossover of 26 EMA by 5 EMA whichever is earlier.
RR Ratio: 1:5
NOTE: This idea is an attempt to predict the future price movement. Investment decision based on this idea, if any, shall be solely at the risk of the investor.
Breakout Candle Close: 161.90
Anticipated Price Target: 200
Suggested Stop Loss on daily closing basis: 155 (for the first 4 daily candles starting from 12th August 2021). Thereafter the book the profit/ exit on attainment of the price target or downward crossover of 26 EMA by 5 EMA whichever is earlier.
RR Ratio: 1:5
NOTE: This idea is an attempt to predict the future price movement. Investment decision based on this idea, if any, shall be solely at the risk of the investor.