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TheNewsCrypto
Nov 27, 2022 9:00 AM

ROHLTD "Monthly Breakout Analysis" Long

ROYAL ORCHID HOTELNSE

Description

Hello Traders !

The above analysis was done on a "Monthly" basis, the holding period may take a few weeks or months to reach the targets.

Trade Setup and Analysis :

In monthly time, we can see an ascending triangle pattern on the above chart, as well as a Cup and Handle structure, which I have highlighted in the image below; both patterns were bullish in most cases.



Since July 22, the price has risen nearly 175%. I was expecting some consolidation in this region, which could last one or two weeks before the price shoots up further or it may corrects to the 210-220 level.

FII/FPI have increases holding from 3.79% to 4.24% in September'22 Quarter.



Trade Level :

Buy Level : 255 -260

Target : 510

Stop Loss : 175

Happy Trading
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