@prasad5959, if breakdown, first target is 1903.if breakout, immediate target is 1990 and further 2030
kandaswamyp
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Can u pictorially show the triangular formation? what is the effect on Dec expiry? P/C ratio is 0.61 indicatiing upperside moment is not possible. Your views please.
theapextrader7
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@kandaswamyp, I did not get what is meant by "pictoral representation" other than that i have already drawn here. As far as option data is considered, the stock is stuck in range bound so that further movement comes in only after the consolidation is complete. This triangle may turn into parallel channel pattern if the consolidation continues. But for breakout we only needs a positive news or weaker hands are entirely eliminated in the process of consolidation. So we better wait for the breakdown or breakout (with volumes) of the triangle or channel(which my form) for entry.
kandaswamyp
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@theapextrader7, better Q3 reults & smooth merger of Reliance and Future retail should give a breakout, perhaps. Thank you for your views, gives good understanding.
theapextrader7
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@kandaswamyp, cheers. Just sharing what I get to know from overall observation :)