koolshanin
Long

MPL breaking a monthly resistance

NSE:MANALIPETC   MANALI PETROCHEMS
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MPL breaking the Monthly resistance of 33.7 in a single shot due to news driven scenario.

Can complete the AB=CD harmonic pattern at 44.8 as the C retracement is 0.5

This stock can retest 33.7 for activity.. so better the enter only 25% of the position. as 42 is again a reistance for it

Pattern AB=CD
CMP 37.8

Aggressive Entry 37.8
Aggressive StopLoss 30.55
Aggressive RoR Min 0.97
Aggressive RoR Min 4.72
Reward 1 44.8
Reward 2 72

Part book levels can be 41.9/48.6/55.8/59.6

Since trading near resistance not advisable to entry full and better to enter a small part.. comfortable trading above 42 can let to adding more r near 33 if retracement comes..

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