Price are moving in a parallel channel but in a special way as it touches the same line twice before turning the direction. It has already touched the lower trend line twice so we can expect it to go the upper trend line now. Rectangle pattern may give minor resistance at 505 and on crossing decisively, it may see the 540 level.
Disclaimer : All ideas are my personnel view. Please take financial consultancy for trading decision.
Disclaimer : All ideas are my personnel view. Please take financial consultancy for trading decision.
Trade active:
As expected it has reached 505 level and on breaking here we can expect the next level.
Comment:
Market has broken the resistance and we can expect the next target as given, Very good trade so far :)
Trade closed: target reached
