#tinplate #swingtrade #momentumtrade #chartpattern #patternbreakout #breakoutsoon
Swing Trade / Momentum Trade
>> Flag Pattern (Breakout soon)
>> Good Bullish Setup
>> Good Strength & Decent Volumes
>>Low Risk High Reward Trade
Swing Traders can lock profits at 10% and keep trailling
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Flag pattern in HCL Tech scrip. Long set-up as breakout has happened. Two targets, 1st is the width of the flag and 2nd is the length of the pole.
SL is ideally the low of the flag but one can keep a trail of recent swing low as well for tighter stop.
After giving a CUP WITH HANDLE Breakout, it formatted a flag pattern consolidation. Today it's gave a Break-out. We can expect 8% UPSIDE with 3.5% DOWNSIDE Risk.
Entry - 2020
SL - 1955
Target 1 - 2075
Target 2 - (2150 - 2180)
***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ******
Aggressive traders enter at the breakout and conservative traders may give entry after retracement (Retracement is optional, we cannot expect every stock to take a retest after the breakout, it may also continue to have...
The stock was consolidating in a flag pattern after a good rally and broke out of its resistance trendline. However, due to broader market sell-off, the stock declined to lower levels and seems to have found support at the 50 DMA levels. The stock can be bought at current levels with an SL below 168.
Always keep a tab on broader market conditions while trading....