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headymuk
Sep 26, 2021 3:56 AM

IGL RESPECTING ITS MAJOR SUPPORT LINE ! Long

INDRAPRASTHA GASNSE

Description

IGL is clearly seen respecting its support line in the past.
This can be a good risk reward ratio entry, wait for formation of any bullish candlestick pattern on support line like morning star, bullish harami, bullish engulfing , hammer etc.
After completion of pattern long trade can be taken here.
Note : If support trend line breaks downside, avoid taking trade in this stock.
Also note that this analysis was done by me only for educational purpose , feel free to share your views.
Comments
arun2404
today closed below 200 sma
headymuk
@arun2404, check tomorrow , maybe it can be a fake breakdown. If tomorrow its bearish, avoid taking trade in it
arun2404
@arun2404 support broken
psshri
its actually a rising wedge, if you draw trendlines considering last 12 months
headymuk
@psshri, all patterns are formed by trend lines only. I didn't drew resistance line as it was of no use now, as the stock is near its support area.
Skai01
Thanks for sharing this bro....Keep sharing, it will help us to boost our knowledge :)
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