Price trading near All time high and it is yet to close above it. One can expect a power breakout when it closes above ATH and sustains.
Keep an eye. Look for patterns in the lower time frame and take the trades wisely.
#COFORGE BO to new ATH Closing. Yesterday closed above channel top line.
1. BO to New ATH closing
2. Accumulate between 2910-2850
3. CBSL 2810
4. TARGETs 2954, 3116-3132, 3358,
3476, 3646, 3711-3725
Nice VCP pattern.
also a 16 week cup and handle base.
gave a BO of upper trendline (early entry) and little pullback the next day.
Exact entry pivot is above 263.
volume is very quiet.
Price at ATH. so open target.
15 week base - flat base on daily and more of CUP on weekly charts after strong prior trend of 284%.
Good fundamentals. Sugar sector also moving in sync.
Retest after BO done. Need to hold BO line. Can go for 200 which is ATH.
Price is at the all time high resistance zone and can give a breakout above 392.50, keep an eye on this can be a good positional buy
DISC : VIEWS FOR LEARNING PURPOSE ONLY
Today NIfty hits ATH but for Bank Nifty, It's a still long way to go ( 7% + from its ATH), although Bank Nifty broke parallel channel on the day frame chart.
This analysis is done only for educational & intelligence purposes, invest or trade at your own risk
From 500 to 1000 this script moved quickly and still it has something left !!!
Price formed a Flag pattern and it breaks the flag top today, today's close is very important to decide the further move.
BSE:SENSEX has recorded a All Time High today(26-Nov-19) but it was rejected by a trendline that extends from August 2018 till today. If this trendline is broken on a daily closing basis then I am expecting SENSEX to continue to the upside.
A little non-streamline opinion again, ppl are carrying shorts due to formation of doji's in Nifty, but personally I feel we are still in very strong trend, yes there are very less chances of repeating things like "Only 4 times nifty given 6 continue +ve close in 2019" up and it can be very sharp correction when it comes, but I feel that will come after ATH, or...
It is been observed that DHFL and Titan breaking out to the All Time Highs, indicating a strong bullish move ahead.
DHFL
Target -355
SL -345
Titan
Target: 470
SL- 460
