Wedge pattern breakout and another Trendline which was tested multiple times and ready to break,
Monthly and Weekly candles also looks strong with good volumes and if a day candle closes above 890 - 900 level we can anticipate a quick move in Mcdowell (United spirit) till 1000 levels.
-educational purpose only.
Hii all..
Greetings...
Today i'm sharing with you Daily Chart of McDowell - United Spirits.
Chart has formed a very good rounding Bottom Pattern. the Pattern has already given a breakout at 940, but stuck in a price range of 984 to 1017 as soon as Resistance of 1017 is broken we are going to see a big move on the upside with approx. TGT of 1146...
Multi-year breakout seen in this counter. Near festive season and booming sugar sector! direct beneficiary from this is the alcohol sector!
And my pick from this cycle will be united spirits!
🔴DISCLAIMER
***** 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...
United Spirits making Higher High and Trendline Breakout with good volume
Entry:
1) If it come for Retest we can buy @660 level with confirmation.
2) If price Sustain above above 675 level then we will go long.
Sl: 650
Tgt: 720
*Always Enter With good confirmation & Maintain proper Risk Reward.
******* Knowledge Purpose only ********
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