Ascending Triangle breakout and Retest.
This analysis was done in live market. As 
TATASTEEL opened with a huge gap up during the opening bell(making the week's new high) I looked for typical patterns in smaller time frames and identified a pretty clear Ascending Triangle pattern. After a few consolidations a positive breakout occurred and closed above the resistance, therefore I took an entry and decided a reasonable target point. The strong uptrend lasted for almost 30 mins and the price failed to make a new high, this was almost a 20 rs upside and a sufficient lot size would've done the trick. As of writing this, TATASTEEL is trading indecisively in a sideways trend and is probably traded by computers.
-Happy Trading !!!
TATASTEEL opened with a huge gap up during the opening bell(making the week's new high) I looked for typical patterns in smaller time frames and identified a pretty clear Ascending Triangle pattern. After a few consolidations a positive breakout occurred and closed above the resistance, therefore I took an entry and decided a reasonable target point. The strong uptrend lasted for almost 30 mins and the price failed to make a new high, this was almost a 20 rs upside and a sufficient lot size would've done the trick. As of writing this, TATASTEEL is trading indecisively in a sideways trend and is probably traded by computers.-Happy Trading !!!
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.