Jatinmehta19901

IIFL Securities - Ascending Triangle Pattern Breakout

Long
NSE:IIFLSEC   IIFL SECURITIES
IIFL Securities has given a ascending triangle pattern breakout with breaking its all time high price of 65.5 on weekly chart.
CMP : 75.85
Target : No Target, Let your profits run as long as your trailing stop isn't hit.
Trailing Stop : 60.5 (10 weeks EMA ), will go up every week.

Merits:
1. Ascending Triangle Pattern Breakout
2. Weekly closing above "All time high"
3. Increase in volume by 10 times (Crosses ATH with a weekly volume of 22mn as against an average of 2mn per week).

Happy Trading!!!

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.