MOIL has formed Reverse Head & Shoulder Pattern after long down trend. Can be added at current level around 157-158 with target of 170 and set SL at 153. This gives us risk to reward ration of 1:3.
Disclaimer: This idea is only for education purpose, Please consult your financial advisor. I am not SEBI registered.
Trade active
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Comment
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- 160-162 is acting as resistance level and 155 as support level right now - If it breaks the resistance then we can expect 168-170 as next target
Trade closed: stop reached
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Chart is moving sideways and not moved as expected.
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Vanathi