Laxmi organics breaks trend line resistance, and retest made for trend line breakout at last circle. Made consolidation and then again breakout, confirmation for a caped downside, by keeping sl near 264 which is breakout candle low go for, First target 380 , second target 490.
lx chem look good for positional swing trade.
stock has made short term bottom formation on date 29/11/2021
and next 3 day attempted rally
finally follow trhought day happned with incresed volume
risk managment will play key roll here marked part entry for entry for first 50%
later balance 50% can be enter at re test of pattern or on momentum up side...
Seems like Lxchem is making a triangle pattern & Was at Support Trendline we will enter with confirmation above 550 level by keeping 595 as 1st TGT & 625 As 2nd TGT. Sl if the candle closes below 528 level and it's low Break.
*Always Enter With good confirmation & Maintain proper Risk Reward.
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Pennant Continuation pattern break visible on daily chart.
You can also see a bull flag pattern broken.
Can see upside upto 241 in the next week and another upto 256 if volume continues to support.
