HARMONICSANAND

triangle technical breakout !!!

Long
NSE:HAVELLS   HAVELLS INDIA
havells :
trade set up :
1. buy with stop loss as 1010 on closing basis
for targets : 1082/1133/1178/1125 +
technical for buy :
1. triangle
2. breakout retest and bullish engulfing formation
note : breakout has happened at upper trendline resistance and price retested the same , now moving up with good price action to reconfirm the bullish structure .
Comment: target 3 1178 done

Comments

Thanks for your contribution.
200 coins
+5 Reply
@AbhishekHSinghCMT thanks dear
+5 Reply
Detailed analysis, easy to understand.
100 coins
+1 Reply
HARMONICSANAND InvestPro_India
@InvestPro_India, thanks dear
Reply
isn't there a resistance at 1087, better to buy above 1087 hold ?
+15 Reply
Sanjeev_Jainapur FieldMarshall
@FieldMarshall,
It came down from 1080.This time it may cross this barrier.Don't go at once.Keep building the postions.This stocks trades below 1 million volume most of the time and highly operator driven.
+2 Reply
looks like false breakout bro there is no volume at all..
+9 Reply
@Pavanjackson, I totally Agree, the stock is at Distribution phase one can expect the continuation of the rally above the previous resistance level 1235. Big player are selling at higher prices.
+1 Reply
Great analysis, congratulations on being featured!
+8 Reply