STEEL City Securities : Break-Out


1. After long down-trend : consolidation can be seen, which means trend is sideways...Once this range is broken, it lead to bigger up-move.
2. RSI & MACD confirms the BO every time.
3. Key aspects of consolidation : longer the consolidation, the bigger is movement on BO.

Ascending Triangle Pattern..
1. Flat top : bulls tried many time to break the RESISTANCE but couldn't.
2.Rising Support-Line : makes the pattern bullish.

Current psychology to trade : Either "wait for little pullback or consolidation for fresh entry" OR buy at cmp and accumulate in dips(in Tranches).

For 15%-20% up-move in short-term.

Hey Everyone, above analysis is completely in my own words. If u like it please leave comment OR tell me if you want me to share bookish language in my analysis.


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