Tilaknagar Industries
Date: 30.07.2024
Timeframe: Day chart
Remarks: Its classical Double top & Double bottom, M pattern formation.
To trade breakout see double top exit with volumes, candle range & delivery quantity at nse website.
To trade within the M pattern can take swing trade based on fibonacci levels with the help of your favorite moving average .
Double bottom is quite far away from here, therefore if price retrace till there then it should work as support rather then further breakdown.
Also check quarterly results as well, based on that you will have higher conviction of double top breakout trade & hold.
Regards,
Ankur
Timeframe: Day chart
Remarks: Its classical Double top & Double bottom, M pattern formation.
To trade breakout see double top exit with volumes, candle range & delivery quantity at nse website.
To trade within the M pattern can take swing trade based on fibonacci levels with the help of your favorite moving average .
Double bottom is quite far away from here, therefore if price retrace till there then it should work as support rather then further breakdown.
Also check quarterly results as well, based on that you will have higher conviction of double top breakout trade & hold.
Regards,
Ankur
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