MCDOWELL share is near to breakout either it goes down or up.
We also gave this old Setup around one week and it gives a good profit to the trader.
Now for tomorrow if MCDOWELL share goes above 834 you can buy this trade.
If stock goes down below 815 we can sell this trade.
What's your view on this comment below in the box.
United spirits again has displayed good momentum, in price and volume both.
I would enter the trade but the entry levels depend on 9 EMA for daily chart.
I would keep an eye on the stock and wait for some consolidation before it takes the next upmove.
***** 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...
It will break out of falling trend line resistance and will attempt to regain its glory once it is beyond 700.. Keep an eye for a big move. . Also up-coming festive seasons and unlocking will see a further increase in sales and volumes and help it cross that level.
United Spirits making Higher High and Trendline Breakout with good volume
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.
*Always Enter With good confirmation & Maintain proper Risk Reward.
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Mcdowell facing resistance near mid term supply zone of 680 to 685 levels
RSI also cooling off from above 80 levels
Immediate support at Fibonacci retracement level of 615 to 621 level
Keep SL of 685 on daily closing basis
Do your own analysis before trading
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There is a rounding bottom pattern which is clearly visible in the weekly chart of MCDHOLDING, and it is about to be broken.
Positional or short term swing traders can engage. If breached above 57.30, a stop loss below the levels which have been respected since 2008 would do the trick.
PS: I am not a SEBI registered advisor. Invest only after consulting with...
Price forming descending channel pattern and a small breakout happened today inside the channel which leads the price to move towards the channel top.
Descending channel will have high probability of breaking the channel up and move up quickly.