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Breakandretest

Care Rating- Triple R Concept (Rise- Retest - Rise)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 sloping EMA which now converted into upward rising EMA and price has taken support exactly at 200 EMA+ Breakout level. Price action chart for the same is attached:- We can also draw a trendline from top and wait for that to break for a rise again. so for now Close above 500 will certainly give this stock wings. Cheers folks and Happy Trading.
NSE:CARERATINGLong
by LearnersParadise
2
Timken India- Break and Retest and potential RiseTimken 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 it twice and reached there for the third time. Volume in today's candle is also pumping up. A break above 1130 might give some wings to this stock. Keep an eye folks and Cheers.
NSE:TIMKENLong
by LearnersParadise