NeeteshJain

JustDial Channel Breakout

Long
NSE:JUSTDIAL   JUST DIAL LTD
It has been observed that the price action is breaking out of channel pattern and shall further move up to resistance zone .

T1- 460
T2- 480
SL - 420
Trade active
Trade active: Confirmed breakout, now a good rally can be seen. Regards
Comment: Which Initially looked like a convincing breakout, turned out to be a failed one.
Here is an updated look on the chart,


In next session, if hourly chart closes below 420 then it shall further dip to strong support of 400 levels.

Thanks
Comment: As we could see in last few sessions that the price action did not close below 420 levels on hourly chart which kept the support intact and now today the price action finally breaches above the downward channel indicating further higher movement.

Here is the chart for reference


Thanks
Trade closed: target reached: Target 1 reached successfully. Regards
Comment: Hourly Chart Updated

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