Hello friends sharing the weekly chart of Ntpc as we can see by this chart that currently it is trading in Triangle pattern on weekly time frame after a breakout of falling trendline resistance and retested that resistance too as a support and the sharp uptrend supported by trendline it is indicating that a bullish move will come if it will able to break the resistance trendline of triangle and a horizontal resistance (very old resistance) too which is nearly about to 187-188 levels for the target of 201 and 236 which is almost near to it's all time high too in this execution we will take a stop loss of weekly close below resistance trendline.
π£Trading setup is the most important thing in trading because it always help you to avoid the compulsory trading and will do only when your pattern or setup will allow to trade with proper risk management because you kept in your mind that I will do trade only when mine setup will allow.
OBSERVATIONS-: π‘BREAKOUT OF FALLING RESISTANCE π‘RETESTED FALLING RESISTANCE AS SUPPROT π‘TRIANGLE PATTERN CURRENTLY
KINDLY AVOID ABOVE MENTIONED UPDATE, BY CHANCE UPDATE TARGET INSTEAD OF TRADE ACTIVE, SO NOW RECTFYING IT.
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BREAKING A MULTI YEAR RESISTANCE
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TARGET OF 201 COMPLETE, SHARP UP MOVE ARRIVED AFTER MULTIYEAR RESISTANCE BREAKOUT, STILL GAINED 8% SO FAR. STOP LOSS UPDATE- NPW I WILL TRAIL STOP LOSS TO MY COST AND WILL WAIT FOR THE SECOND TARGET TOO.
Trade active
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PRICE IS GIVING TWO HIGHEST MONTLY CLOSE ABOVE HIGHEST MONTHLY CLOSE RESISTANCES, REACHED 230 FROM 188 LEVELS NEAR TO TARGET GAINED 22% SO FAR ONLY 3% TARGET IS REMAINING, I AM TAKING MAJOR PORTION OF GAINS NOW.
Trade closed: target reached
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target 236 complete friends by today's highest price from 188 levels, closed in 25% gains. Will publish a new idea for it seems it can go good up from here too
Breaking horizontal resistance, Some peers action also seems or sectorial movement
anandlive
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Excellent approach.
AMIT-RAJAN
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@anandlive Thank you so much for like and comment dear brother! Good to see you here. Keep rocking
kulwantdeol
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nice job sir...π
AMIT-RAJAN
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@kulwantdeol thanks dear kulwant, hope you read second update carefully i updated the first one wrongly as target instead of trade active βοΈπ
Sonia-Singh
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it was a great idea that how you predict sectorial move so early, somehow I missed but many congratulations for full target, keep sharing
AMIT-RAJAN
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@SONIA123456 Thank you for like and comment, yes i continuously tracking sector one tata power chart i made but due to some reason not able to publish and one power grid idea is also published you can check in my profile
AMIT-RAJAN
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Reached 197 today we can see target of 200 levels soon
manojmadhavi97
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Hi Amit Rajan , will it break multi-year resistance in coming days ?
AMIT-RAJAN
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@manojmadhavi97 hi, still it is trading above a long resistance from 2011 i updated that by the chart image too today morning