Stockupy

PONDYOXIDE | Ascending triangle | Trendline + EMA confluence

Long
BSE:PONDYOXIDE   PONDY OXIDES & CHEMICALS LTD
CMP- 281.8
SL - 260 (immediate SL, if close below 260), 230 on closing basis (w.r.t. pattern)
Target - 400, 450

1/6/2021

- Breakout of ascending triangle observed with good volume spurt
- HL into resistance
- Can see support of 20,50,100,200 EMA , trying to give positive crossover
-The script has been respecting the trendline after the covid fall
- Short term view is negated if close below 260 on daily basis (REAL SL would be of the long term respecting trendline is broken
Trade closed: target reached

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