Trend line break has happened at 88 - 93 level. For those who missed the chance to enter at that level, can wait for the break out above 115 with the stop loss of 99 for the targets 123, 129 and 135.
Wipro has been in a downward spiral for the last couple of weeks. The stock has formed a pennant formation on the 60min chart with the price approaching the 3rd touch of the pattern which indicates pattern completion. Sellers should observe the zone marked on the chart and look to initiate short positions if we see any pinbar or engulfing candle in this area....
Bank of Broda is in a Bearish Pennant formation of the 60min chart. Shorts may be initiated after the break of the 103.95 level to the downside. If the price advances to the upside traders should observe the 107.40- 106.30 zone for any rejections or candlestick formations to short the stock.
Zone - 107.40 - 106.30
Target 1 - 101.45
Target 2 - 99.40
Target 3 -...
Hi Guys,
Gold Gave a beautiful bull Pennant breakout a few days back and Currently in the consolidation mode. Theoretically, it should repeat the similar move(which it gave from 1275-1425) after this consolidation which will probably lead it toward 1520-1550 range.
This is a pennant formation on the 60min chart. It has clearly rejected price at 269 levels. Very strong bearish candles at these areas suggest that more downside movement can occur. Traders can go short at the trendline break at 262.55 level. Targets are mentioned clearly on the chart.
This website uses cookies to ensure you get the best experience on our website. To learn more about cookies, including how to control cookies, please read our Cookies Policy.
