Stock made an all time high and is now retesting the breakout levels.
10% dip from top with low volume and is now in demand zone i.e, 450-480 levels.
Stop loss: closing below 439
Target 1: New ATH (>534.8)
Target 2: Open
Disclaimer: for education purpose only.
Daily break and retest - confirms uptrend
4H my preferred entry zone. double bottom formed at the demand zone . broke and waiting for 2nd retest.
Take profit 1 and 2 are set at 90.880 (TP1) and 91.180 (TP2)
Sl will be 5 pips below previous LH, will be adjusted at retracement if need be.
Good Luck and Risk safe, don't gamble, even a perfect setup can fail.
Varun beverages has been testing its breakout levels and and interestingly it has been consolidating near retest.
Price has stopped making lower lows and now volume is pushing prices up again and again.
A price action for the reference:-
We can call it a triple R concept as well but not until it breaks out the red line marked at 933.
Keep an eye folks...
Hello Folks First of all Sorry for not posting anything.
Now I am back and I will be back with a bang.
Let's begin then.
I have shared this chart when it was trying to break out from a W Pattern.
Not what has happened is it broke and it came perfectly back to its breakout level.
A perfect example of resistance turning into support
More interestingly downward...
Timken India broke out from its resistance some time back and after breaking its resistance became support and as this is fresh retest it help itself beautifully.(Marked with big circles.)
After retest it made a w pattern which is again a beautiful sign that stock does not want to go down.
Small circles denote the present resistance at 1130. It has already tested...