The index has been traveling in a rising channel formation for the last year. This time it reaches the top edge of the channel. If doesn't sustain the above, a downward journey is possible.
We just see our risk-reward. Keeping a stop-loss of around 36400 on a closing basis for two days. or according to one's risk management. target seems 35700 or more.
The setup fails if sustained above the channel.
This is only for learning and sharing purposes, not trading advice in any form.
All the best.
We just see our risk-reward. Keeping a stop-loss of around 36400 on a closing basis for two days. or according to one's risk management. target seems 35700 or more.
The setup fails if sustained above the channel.
This is only for learning and sharing purposes, not trading advice in any form.
All the best.
Comment:
CMP 36070. Seems like the setup is working.
Comment:
A stop-loss of 36400 has been saved till now.
Comment:
The setup failed. Price has gone into new territory.