Continously trading in a small range is an indication of a breakout. A BIG BREAKOUT...........
Buy above 850.55
Avoid the stock if a big gap up or gap down is seen
Enter after the breakout happens and not before it
Do not chase the market, i.e., do not get involved in late entries
Only enter with strict stop-loss and target
This is not a...
Major Support Level Break Down
RSI was not above to cross above 60 Level
Closing RSI Below 40 can increase the downside momentum
Rising ADX Crossing above 20 and -DMI took support at 20 indicates that trend may take strength now
Price Action = Formed Lower Swing High and Lower Swing Low
Most Recent Swing high is very near to the Major Support Level
Price trading inside a range for the last 3 months and it is expected to continue in this month also, as price reached the support last month and moved up to the trend line it is expected to reject here and once crosses the trend line it will head to the resistance level at the top.
Good positional buy in cash !!!
TREND ANALYSIS & TRADE SETUP !
Follow Chart Instruction.
Do not be Hurry for entry.
Wait for Proper Entry Setup.
Buy/Sell with Best Risk Reward.
Educational Chart Only.
Wait for entry setup, if available then Long/short.
Reward is 10-12 times
Indraprastha Gas Limited : Natural Gas Distribution Company ( NSE:IGL ) is Making SR Trendline Pattern (PATTERN BREAKOUT TRADE).
This can become a very good trade for INTRADAY traders.
Target + StopLoss: There is no target here. You keep the first target as much as the StopLoss you put. And the StopLoss will be the Low/High of the candle that broke this...