Virajsemwal
Short

breakout or fakeout ??

NSE:SAIL   STEEL AUTHOR INDIA
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3
53 0
Sail is trading at the upper edge of the ascending triangle !
though the momentum is up but past price action has seen it consolidating in the 60-65 band before making n upward/downward journey !

i anticipate a trading range of 56- 65 for feb expiry !
since the price has moved up significantly n the 65 n upward offers huge resistance one sell the 65/67.5 CE feb !
SL - 65 is crossed with volumes !
disclaimer : only for educational purpose
Trade closed: target reached
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