As seen Jain Irrigation has broken out of symmetrical triangle with volumes on the daily chart a few days back. The stock has the potential to move higher and test its intermediate highs. Conservative traders can wait for a pullback to enter, in order to have a better risk reward.
Target: 107, 120 Exit Levels: 91.90 CMP: 101.50
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First target met today.
Comments
saurabh1292
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How do you determine the target levels. I would like to know. I am a recent student of technical Analysis
aks85
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@saurabh1292, Previous swing high which is around 107 is the first target. Second target is calculated by taking the difference between point 1 and point 2 (height of the triangle) and adding it to the breakout level. point 1-- 108, point 2-- 80, breakout level 95. so the second target is around 120.