Power Grid C&H formation, target 418
As shown C&H pattern is completed and with tomorrow's monthly closing above 348-350 it can target to reach towards 418 in few months. With depth of 70 points of the cup the target is 418.
Monthly close above 348 is important to take the trade.
* It is not a trade advise but technical analysis shared based on my understanding of patterns and personal experiences, please take any trade with applying your analysis and at your own risk.
Monthly close above 348 is important to take the trade.
* It is not a trade advise but technical analysis shared based on my understanding of patterns and personal experiences, please take any trade with applying your analysis and at your own risk.
Note
Missed to close above 348.70 which is previous LTH on monthly basis, but still managed to closed around the level so from here depending on price action one can go long but I think a weekly or at least 2-3 day close above 357 level will back the theory.Note
So far holding well above the neckline. It is important to remain above this level till correction phase in nifty is running.Note
Stock is back, made new LTH today.
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