NSE: CONCOR -Near to break resistance @ 703
Stock has corrected since May 2018 from 703 to 541
Since then bounced back to touch 700 level and moving sideways near to 703
Formed triangle like pattern between 541 to 700
Technically make or break situation
Possible Long @ current/ above 703 close level with stop loss 642
Target insight 740, 763 & 801
Below 642...
Concor is on the breakout level of an inverted H&S pattern with massive volumes on the right shoulder. The depth of the Head is about 150 points. (only for Information, no recommendation here)
Accumulate Concor at CMP (1420+) and on dips upto 1225 as we can expect it to move towards 2500/ 2800/ 3000 in coming months as long as the channel bottom support remains intact.
Plan your trade. Trade your plan
The stock has made classical double top pattern and broke the neckline. This simple pattern does not require any explanation however in case of doubt or your experience with it you can write in comments.
Price has been very consistently respecting the channel. Currently hovering near the lower end of channel.
Anticipating an up move from 1290 - 1305 support zone towards 1380 - 1385.
Also notice the bar frequency, It can used to project the target date near 6th Sep. 2017
Always have an escape plan if trade goes wrong.
Trade safe, be healthy.
Hit like if this...
