HEG LimitedAsset: HEG Limited (NSE: HEG)
Timeframe: 1 Day (Daily)
Pattern: Parallel Channel
HEG is currently trading within well-defined parallel lines on the daily chart. Price has respected both the upper resistance line and the lower support line multiple times, confirming the strength of this channel.Trading Plan:Bullish Scenario: Look for a strong daily candle close above the upper resistance line for a breakout trade.
Bearish Scenario: If the price rejects the upper boundary, it may retest the lower support line.
Support/Resistance: Keep an eye on the channel's midline for immediate short-term.
reactions.Disclaimer: This is for educational purposes only and not financial advice.
A parallel lines chart pattern, known as a parallel channel or price channel, is a technical analysis tool formed by two parallel trendlines that contain an asset's price action. The upper line acts as resistance connecting swing highs, and the lower line acts as support connecting swing lows
