JUSTDIAL has Broken and Retested Triangle Pattern in 60 m TF
Taking the Weekly Time Frame it is making a Round Bottom Chart Pattern from July 2015 onwards and broke below 1220 range.
On the Daily Time frame its making an ascending Parallel Channel Pattern from October 2020 onwards and mostly keeping within the Trendlines.
On a 60 Minute time frame it has reached the upper Trendline on 17 Jun 2021 and has started reversing. You can draw another Support trendline from 20 May 2021 to make a Triangle Pattern.
It has broken the Triangle Pattern at 2.15 PM and also done a retest of the support trendline and the Resistance turned Support Zone at 1007-1030 range and made a bullish candle. So we can go long from there. The only drawback is the indecisive spinning Top Candle at the end of the day.
So can decide to go long when you get a bullish confirmation candle tomorrow for the following targets.
The Upper Trendline of the Channel T1-1145
T2-1220 after Breakout and retest of the channel.
On the Daily Time frame its making an ascending Parallel Channel Pattern from October 2020 onwards and mostly keeping within the Trendlines.
On a 60 Minute time frame it has reached the upper Trendline on 17 Jun 2021 and has started reversing. You can draw another Support trendline from 20 May 2021 to make a Triangle Pattern.
It has broken the Triangle Pattern at 2.15 PM and also done a retest of the support trendline and the Resistance turned Support Zone at 1007-1030 range and made a bullish candle. So we can go long from there. The only drawback is the indecisive spinning Top Candle at the end of the day.
So can decide to go long when you get a bullish confirmation candle tomorrow for the following targets.
The Upper Trendline of the Channel T1-1145
T2-1220 after Breakout and retest of the channel.