TradingSutra

INDIGO: Bullish Triangle Breakout

Long
NSE:INDIGO   INTERGLOBE AVIATIO
After a long consolidation for almost 6 months , finally the stock has given a breakout of the triangular structure. Assuming wave (e) completed around 1655 , Indigo is ready to give an upthrust out of the bullish triangular wave.

One should buy the stock on cmp and add on dips (if any), maintain the SL of 1655 which is the area of wave(e) and look for the target of 1880/1960/2020
Manish Bhardwaj
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Comments

It still seems more like side waves, The triangle formation is weak.
Reply
isnt it better to enter after it crosses 1782 with strong signal, since it tested that level previously for four time, if not , mind explaining why? i am a beginner
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mmohit181 abiraman2015
@abiraman2015, you are right it should cross 1782 vith high volume and close above 1800 then its a trade to enter, here in this breakout volumes were weak as well as financials because of covid
Reply
abiraman2015 mmohit181
@mmohit181, I understand that, thanks!
Reply
super chart pattrn nice work thanks bro
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