beware of false breakout
Manappuram has given a breakout on daily and almost breaking out on weekly but we have some false break signs, so beware entering at breakout and wait for pullback or other confirmation.
1. the pattern is nicely setup but then a lower low has increased volatility and decreased chances of sustaining a breakout
2. 200 wema overhead
3. volumes hasn't pick yet
not to sell rather wait for better long confirmation
1. the pattern is nicely setup but then a lower low has increased volatility and decreased chances of sustaining a breakout
2. 200 wema overhead
3. volumes hasn't pick yet
not to sell rather wait for better long confirmation
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