Here I am sharing the daily chart of National fertilizer it gives a bullish breakout on daily time frame on horizontal resistance with good volume jump in it so what it could do next for us? what I analyze on this chart is that there are two probabilities sharing below
Probability One-: It can god straight to target of 74 levels from current price which is about 7.6% from current price.
Probability Two-: It can retest it's breakout zone 65 levels and after retest it could go to target of same 74 levels which is about 13.8% from retesting zones as we all know that breakout zone will act as a strong support because when price trading above on resistance that resistance zone turned in to support zone according to the support and resistance theory that earlier acted as strong resistance.
So one can check into own setup and act accordingly.
Happy Trading with Trading View ✌🏽✌🏽
Probability One-: It can god straight to target of 74 levels from current price which is about 7.6% from current price.
Probability Two-: It can retest it's breakout zone 65 levels and after retest it could go to target of same 74 levels which is about 13.8% from retesting zones as we all know that breakout zone will act as a strong support because when price trading above on resistance that resistance zone turned in to support zone according to the support and resistance theory that earlier acted as strong resistance.
So one can check into own setup and act accordingly.
Happy Trading with Trading View ✌🏽✌🏽
Trade active:
GAINING GOOD I THINK GOOD TRAILING STOP IN HAND CMP 70.50 NOW SO STOP SET ON BUY COST
Comment:
GAINED 6% IN INTRADAY FROM PUBLISHED PRICE, REACHED 73+ PROFIT TAKEN NEAR TARGET
Trade closed: target reached:
FULL TARGET DONE SUPER MOVED ✌🏽✌🏽
Comment:
