Break out of this Triangle will take us to 4050 Region.
Breakdown of this triangle will take us to 3300 zone.
Reason to be Bullish: Strong Support at 3500 zone. Any dip Below 3600 is been bought Quickly with a bounce.
Reason to Be Bearish: Triangles in Downtrends usually Break down.
- on an hourly chart the stock is trading near channel support
- channel trade set up target is around 35-36 odd levels
- stop loss if closing below 29.75
Risk :: Reward ratio looks favorable to go long
Take care & safe trading...!!!
Last time when nifty was at 10503 levels charts were indicating up movement to remain intact till it holds 10430 levels.
Well Nifty has made a low of 10440 thereafter and has been doing a yo yo between 10430 - 10600 odd levels. Today's high so far 10651 is closer to the resistance level of 10680 indicated in previous ...
Idea is at support levels at 73.5 in the hourly charts and MACD has shown positive divergence. It could bounce from here and can keep on watch. Buy above 75, 1st target 80 by next week. Educational purposes only