praveen.bhatiya

Rectangle Pattern

Long
NSE:IRB   IRB INFRASTRUCTURE
The price action has nicely formed Rectangle Pattern it looks that demand is emerging at this level so one can buy the stock with SL of recent low. In case of close below the lower boundaries one should immediately close the trade even aggressive traders can initiate short trade but that does not seems to have good chances of target as there is support nearby.
Disclaimer : All ideas are my personnel view. Please take financial consultancy for trading decision.
Trade closed manually: Closing below the lower trend line to Idea of going long cancelled.
Comment: Although I have not traded it but hind-sighting the short after the breaking the lower trend line could have rewarded well as already reached the target of range doubling today,