NSE:METROPOLIS has consolidated for 6 months after giving a breakout from previous resistance trendline. The stock has so far faced 7 rejections from its new resistance trend line. A breakout from this trendline will be extremely bullish and can gain very high momentum.
Look to enter after breakout at 3500-3600 or at the support trendline at 2900-3000 levels. (incase the stock retraces back).
Company also has decent fundamentals. One can buy and hold for long term investment.
Comment
⋅
*Price has broken out of the pattern. Waiting to break CPR resistance of 3500 levels to enter.*
hahahha u entered ar 3500? now enjoy the breaak out at 2850,, thnkfully i was hyst keeping a waych rather rhan investing on ur calculation
PriceActionSpotter
⋅
@nitinsood2017, Realistically speaking, one would have kept their stop loss below the pattern and that stop loss got hit. Totally fine. Happens in trading. You win some you lose some. Consider yourself lucky as you didn't take the trade. I personally take most of the trades I mention in my ideas. I exited from this trade as my sl which was 3180 got hit.