Possible Channel breakout in Garware Technical
Updated
We can observe price is moving in a channel. As the channel narrows down price started to move toward a higher range along with the support of the 20 & 50 moving average.
Also, the price is taking support before reaching the lower end of the channel. If the price closes above 3279 we can expect a bullish move.
Trade Set-up
1) We can buy if the stock manages to close above 3279 in a daily time frame.
2) Stop-loss can be at 3005.
3) All possible targets are mentioned on the chart.
This is not a recommendation. Do your own analysis before investing.
Please let me know your view on this trade in the comment section.
Also, the price is taking support before reaching the lower end of the channel. If the price closes above 3279 we can expect a bullish move.
Trade Set-up
1) We can buy if the stock manages to close above 3279 in a daily time frame.
2) Stop-loss can be at 3005.
3) All possible targets are mentioned on the chart.
This is not a recommendation. Do your own analysis before investing.
Please let me know your view on this trade in the comment section.
Trade active
First Target reached. :)
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