paddymajhi

descending parallel channel - retest as W pattern - emami

Long
NSE:EMAMILTD   EMAMI LTD
stock followed through descending parallel channel
just recently given breakout of the channel with double bottom or w shape retest just near breakout level

buy - when retest level breaks upside
target - every resistance formed by the channel is target as channel formed by some base-correction-base pattern instead of V-shape M-shape correction.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.