Essel Propack : On the verge of BO. Ascending Triangle pattern with raising lower trendline. Stock made a 52 W and Life time high last week. Would wait for a strong bullish close beyond 204 with increasing voulmes. Enrty at 204. SL at 185. Target market on the chart. Happy trading.
“If you can learn to create a state of mind that is not affected by the market’s behaviour, the struggle will cease to exist.” - Mark Douglas
Disclaimer: This idea has been posted strictly for educational purposes only and any investment shall be taken post proper due diligence and consultation of a certified Financial Advisor
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Please note that Essel Propack India standalone and consolidated of global operation results for the quarter ended 30 June 2020 are scheduled on 30/07/2020. Plan trades accordingly.
Trade active
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Trade is active
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A clean break out - made an intraday high of INR 243
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Target achieved: Target given as 50% of widest point on the traingle i.e INR 236. Can book profits here and move the stop to latest high et voilà!! it's a free trade now
@rajesh066060, just liked it chart study Nd wanted to know where did u learnt from
rajesh066060
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@dogmagears, honestly I'm still leaning and what ever I learnt up till now is by investing long term & then by reading books, following my mentors (Mark Minirvini) and Manas Arora. I watched YT videos and read lot of blogs on TA in Markets.
This particular chart is based on Ascending Triangle pattern which is a continuation pattern and many traders use this to catch big moves in the form of break out trades, it's pretty basic in TA (watch YT videos) and anyone can understand and train their mind to catch this pattern.