bankerrahul

[Positional] PVR nested inside bars

NSE:PVR   PVR LTD
Wait for a candle to close outside the triangle on long or short side and next day, buy when that particular candle is broken.

Target and SL will be posted when trade triggers
Trade active: Short triggerred : 877.45, SL 902
Comment: target achieved... keep TSL or exit

Comments

The range is getting narrow, I will simply sell below 890 and buy above 920.
+1 Reply
dixitnahar mayanksardana
@mayanksardana, yes, i agree with you. the triangle formation is there, but it is small. i am looking for a breakdown tomorrow.
Reply
mayanksardana dixitnahar
@dixitnahar, Yeah, long term charts suggests 700-600 range.
Reply
dixitnahar mayanksardana
@mayanksardana, yes..those levels seems sure to come...the question is when?
Reply
bankerrahul dixitnahar
@dixitnahar, @mayanksardana there are higher chances of it breaking down since theaters are closed and PVR literally has no income even if lockdown is lifted, they wouldn't earn much since nobody would want to go watch a movie si it'll be a trade if this triangle is broken by this week... or no trade until next week :)
+1 Reply
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