The stock is now at the base of the channel. The W pattern indicates trend reversal. The hammer candle is a clear indication trend reversal. Confirmation of trend reversal is when it crosses the previous high. Level given below :-
Buy above 515.55
A Multi-time frame analysis also indicates trend reversal. The analysis is given below.
Note:
Avoid the stock if a big gap up or gap down is seen
Enter after the breakout happens and not before it
Do not chase the market, i.e., do not get involved in late entries
Only enter with strict stop-loss and target
This is not a recommendation and is for educational purposes only.
always follow risk-reward and quantity management for the 100% of the times
The above mentioned idea may not work, so beware of the risk you are taking
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