as NIFTY will open gapup tomorrow so will LT . In 2 days we may see a breakout
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false brekout. but indeed seen a gap up . booked profit early. i thik LT will continue trend . and if nifty showed weakness it might test lower level again. as nifty is strong an will remain this week . we might see convincing breakout .
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nifty opened with a huge GAP DOWN. and now LT on a verge of breakdown. reasons- global sentiment- US market on verge of breakdown.
I am new to charting can you explain what pattern have u made here?
kuru_bhisma
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@ADOS91402, it is based on trend lines and my experiences with chart. well the nature of stock is also useful (whether it falled more when all stocks were falling). LT has shown strength while nifty was falling it fall in somehow less proportionate.
coming to chart , try to find trend line . its all price-action based