Let's fill in our tanks and make ourselves ready for upside Breakout in Petronet. Actually I'm not interested in the downside Breakout, if you zoomout n see there can be shark pattern formation, haven't checked it though by drawing just saying by the perception I get from Petronet. You can try for that shark also if interested but simple channel upside break can be good n better :)
It looks like it has more chances of breaking the channel on the downside rather than upside.
Lately the uptrend has lost momentum on the upside.
ADX below 20 suggests a trading range between 420 to 460.
InsiderB
⋅
@Rahul.u.bhagwat, very nice observation, Thanks for the info
It looks like it has more chances of breaking the channel on the downside rather than upside.
Lately the uptrend has lost momentum on the upside.
ADX below 20 suggests a trading range between 420 to 460.