The script has retraced to 61.8% and taking a support here for past week.
It has also formed a descending channel after the bull run, forming bullish flag.
Considering last 10 days, it is forming an ascending triangle.
Breaking above the upper boundary of the channel + Upper boundary of ascending triangle,
chances are that the script will resume its bull run to ...
as maruti has already rallied enough ..and now struggling a bit to sustain at high levels ..i expect a good fall and retest lower levels ...lets wait and watch!
NSE:JSWENERGY was moving in in Downward Channel on Weekly Chart, and the stock broke this channel in the 1st week on September there after we witnessed a swift rally 81.70.
Trading in better rewarding as risk is comparative lesser where you try to gauge reversal at channel extremes and take advantage of low stop loss during this reversal points. Channel breakouts ...
Will it Make or Break the Ascending Channel pattern on Bank Nifty. Principles of Ascending Channel - the price will break on downside and leads to fall. On here, bear doesn't have the strength to fall or make a big movement on downside. Probability, the price may pull up inside the channel.
Note: I am giving the levels according to the pattern ...
channel breakout with good volume, in 4H time frame. in weekly time frame it is in strong uptrend.
sl - below swing low - 508, tgt - previous swing high - 555.
also there is a cup n handle probability in daily https://in.tradingview.com/x/chJgvKj2/
