POWERINDIA Broke out of an ascending channel pattern. Price gave excellent momentum during breakout but it witnessed heavy selling pressure during market hours.
As a result, price left huge wick behind. Script should consolidate for some days before the next momentum candle because of the huge rejection at higher levels. Track closely.
Consider entering 20-30% position at C.M.P if price opens gap up. To play even safer, enter with full position after retrace and confirmation.
Targets: 3500/4000/4200+ sl below the channel (below 2580)
Position size according to entry price. HAPPY TRADING!
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.