Trent had given a big fall from 947 to around 840 in the past few trading sessions. But, today it has again picked up a bullish momentum with very high volumes.
On the daily TF chart, a sharp reversal, a kind of Morning Star pattern from 23.6% retracement is visible & formation of cup and handle pattern with 945-950 being a strong supply zone which can be tested soon which is almost 3-4% from CMP (I personally bought it at 909)
Breakout of 950 levels with good volumes can be an indicator of another rally, which can be expected based on today's movement.
Please do your own analysis & trade accordingly as this is just my personal opinion for educational purposes.
On the daily TF chart, a sharp reversal, a kind of Morning Star pattern from 23.6% retracement is visible & formation of cup and handle pattern with 945-950 being a strong supply zone which can be tested soon which is almost 3-4% from CMP (I personally bought it at 909)
Breakout of 950 levels with good volumes can be an indicator of another rally, which can be expected based on today's movement.
Please do your own analysis & trade accordingly as this is just my personal opinion for educational purposes.
Trade active:
T1 achieved:-Breakout of 950 done today
I exited at 950 as I had trailed my SL.