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COLPAL is expected to test support zones of 1420 and 1340 in coming days .Can sell on rise with SL at 1510.
NSE:COLPAL Short at 1322.20 with SL 1330.70 and TP 1305.20
Note:
Consult your registered adviser before taking any decision.
Always risk 1% of account size per trade, adjust the position size accordingly.
As per analysis we expected COLPAL to breakout of channel earlier however it continued inside the channel i have included the link for the same idea below , now it seems to be another chance to up movement / channel breakout if it closes above the entry line indicated in the chart in the day candle
DISCLAIMER : All the articles posted are for analysis purpose...
The stock has formed "Rectangle Channel" and trading above it. This simple patter offers an opportunity to trade with a reasonable Risk to Reward ratio of 3. One can go long at 1193-1195 with SL of 1168 and can expect a target of 1265 in coming days.
Disclaimer : All ideas are my personnel view. Please take financial consultancy for trading decision.
COLPAL IS CURRENTLY AT A BREAKOUT STAGE AND CAN GIVE GOOD MOVEMENTS WHEN SUSTAINS ON EITHER SIDE
INTERIM RESISTANCE IS PLACED AT 1220, AND FINAL RESISTANCE AT 1240, BUYING WHEN SUSTAINS ABOVE 1211 FOR 10 MINS
INTERIM SUPPORT IS PLACED AT 1184, AND FINAL SUPPORT IS PLACED AT 1170, SELLING WHEN SUSTAINS BELOW 1200 FOR 10 MINS
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![COLPAL: COLPAL Short Setup [Intraday]](https://s3.tradingview.com/t/TbW8myqX_mid.png "COLPAL Short Setup [Intraday]")
