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Rectangularrange

SBI : Rectangular Ranging - Waiting for Breakout ! Its almost a month SBI is ranging completely within 223 - 235's, probably it may range for another week. If breakout happens expect that will be wild n crazy, in my opinion ( I may be wrong) - I expect there won't be any pullback. But conservative traders can opt to stay out, can enter if any pullback happens in SBI. Moreover Nifty is also caught in some kinda ranging just with hourly swing moves.. SBI being a mover of Nifty, lets watch how things happen... Hit Like button to keep me motivated to post more ideas...Thanks for your support ! Enjoy Weekend !!
NSE:SBIN
by InsiderB
Mahindra M&M : Rectangular Range Breakout I'm not sure why, we are getting back to back breakout trades today morning, sharing few of those with you. Yet to check Nifty chart, may be we will have breakout there also.We can see from chart how long M_M is within that rectangular range and looking for breakout. It will be positional trade, so breakout also takes time if M_M moves to upside on pullback.We can't confirm solely based on RSI also, so wait for breakout in M_M. Some may consider it as bullish flag ( I do agree) but naming it rectangular pattern does no harm. Name isn't important, just the breakout side is important for us ! Hit Like button to keep me motivated to post more ideas...Thanks for your support ! Happy Trading !!
NSE:M_M
by InsiderB
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