Symmetrical Triangle pattern Breakout seen in Gujarat Ambuja

Hello Traders & Investors,
I have brought another analysis on Symmetrical triangle pattern breakout. Well this almost similar to Triangle pattern, but in this lower band trendline act upward sloping support in security. Same we have seen in Gujarat Ambuja Exports. Well there is higher Chances that we can see huge momentum in coming few weeks. So let's go, i will explain a bit about this pattern so you guy's can understand and trade easily whenever you see this pattern next time.

Q:- What is Symmetrical Triangle Pattern?
A symmetrical triangle is a chart formation where the slope of the price’s highs and the slope of the price’s lows converge together to a point where it looks like a triangle.

Q:- Which direction will it go?
If the prior trend is Uptrend then buyers gonna to win the battles for sure.

Q:- How and when to Trade?
Guy's keep in mind when both slopes get closer to each other, it means that a breakout is getting near, and we just have to wait for that breakout to take place. You can take entry once you see successfully breakout and keep stop loss at lower band of the Triangle, and there could be another entry once price shows pull back towards breakout zone. Targets can be place at all time high and 2nd target can be length of Triangle pattern.

So guy's i hope you have learned this Symmetrical Triangle Pattern now.

Let's Focus About Company background:-

Gujarat Ambuja Exports is engaged in the manufacturing of Corn Starch Derivatives, Soya Derivatives, Feed Ingredients, Cotton Yarn, and Edible Oils. Since its incorporation in 1991, GAEL strives to serve the Food, Pharmaceutical, Feed, and many other industries with a long-term growth strategy in the Agro-Processing sector. (Source: Company Website)

Market Cap
₹ 7,223 Cr.
Current Price
₹ 315
High / Low
₹ 327 / 222
Stock P/E
Book Value
₹ 107
Dividend Yield
0.22 %
17.9 %
14.5 %
Face Value
₹ 1.00
₹ 227 Cr.
₹ 12.5
PEG Ratio
Promoter holding
63.8 %
Intrinsic Value
₹ 170
Pledged percentage
0.00 %

Please always do your own analysis or consult with your financial advisor before taking any kind of trades.

Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's.
wow first target done

Best Regards,
Rahul Pal
(Full Time Trader & Investor)

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