Always remember that short term opportunities are against the trend. Never trade in huge qty when you go against the trend. Keep qty lesser than the pocket size.
Dont forget to check the INDEX movement before entering into the trade.
(for educational purpose only)
As shown in the chart, price closed above the resistance line of the ascending megaphone. Typically, this pattern gives downward breakout but in this bull run, it gave upward breakout. No matter, weather it is regular breakout or failure of pattern ...... close above breakout is there. target is near the magic figure Rs 100.
I hope you can now see how the Federalbnk represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis .
Disclaimer: It should not be assumed...