Equity-Earningz

Bullish Rectangle Trading Set-up - Awaiting Breakout

Long
NSE:GODREJPROP   GODREJ PROPERTIES
Godrej properties - Price is consolidating and trading inside a bullish rectangle after a good impulsive move.

Price rallied from 575 to 900+ in an impulsive move in June 2020, took resistance at 0.618% retracement level. The price is hovering between 850 to 950 range for the last 3 moths.

A clear breakout is awaited above 965 to take a long entry.
Sl should be below 0.618% retracement levels, i.e is below 925-920 levels.

If price corrects form these levels and go below 840 levels before breaking out then this trade set-up becomes invalid.





Comments