After breakout from H & S it formed a runaway gap. Now taking support of the runaway gap and forming a range near it. Swing idea will be for the nearest resistance and positinal for above it. Sl is be considered on weekly closing basis. Volume on daily TF is very low on red candles and high on green candles.
My analysis is based upon price action trend and Triangle pattern , the first target is based upon 1 hr chart , 2nd target is based upon 1 day chart , 3rd target is based upon weekly chart .
Be patience and Hold as long as you can, i hope you will earn great profit in SBI
Always follow up youur own analysis because any strategy has probability of 50% of...
Patel Integrated Logistics is near its multi year Resistance to the break the triangle pattern.
Execute Long above 38 for a long term target of 80 & above. Keep the Stoploss at 20.
The company have started performing better and the incoming volume started to spike up.
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Disclaimer: This view is for educational purposes only....
The stock broke out of its trendline resistance and also completed a pullback to retest the trendline which now acts as price support. The stock is now poised for an up move to levels mentioned in the chart.
The stock closed breaking a very critical support level of 990 and closed at 983. It has been on a clear bearish trend over last few days making a bearish marubuzo candle today. However, it has rebounded off this level in the past as well.
Postional Ideas for tomorrow:
Below: 978 - Short for targets of 970, 960 and 950 with SL at 988; can trail SL after T1