Traders, as you can see clearly that BBTC was first in falling or descending channel pattern and then it gave breakout and formed wedge pattern. Stock also gave breakout from wedge pattern (that too with high volumes ). Now stock is again retesting the trend line (resistance line). Buy once stock start showing positive momentum. Don't buy if stock closes below the...
🔰 MY thought process :
⭐A broadening pattern on the Daily chart :) meeting with fibo extension giving a perfect round number of 1300 which seems to be achievable but in a while, kinda positional setup for me :)
🔰Am I taking this trade now: No---Reason: Already in the trades of Naukri and PPL as posted last time :) also took a small position in Coal India today...
🔰 MY thought process :
⭐ Well As nifty touching ATM once again so we can also see a good move in BJFin too, but instead it produced an evening star on the D chart = bearish sign, that too at resistance, Q is will that make it bearish = yep but only intraday basis, and that would be against the trend trade wrt overall market sentiments :), so I would not touch...
Traders, I posted about the sleeping giant before at around 752 and stock has given 12% return after that. Now stock is giving one more chance for those who missed the rally, after the breakout from double bottom pattern it is now retesting. This can be good risk:reward trade considering big targets and so small Stop Loss.
Hi there,
Please follow the chart and wait for a retest on the support zone for an entry. A retest is used here for a double confirmation of to avoid the fake-out move. Feel free to drop any comments in the sections below.
Regards,
Abhishek
Pinbar at such resistance lvls tells a good story for future, keep this stock in mind :)
Happy trading to u all !!
For now, those in trade be in it and those who want to take a good entry should wait for a good bullish pattern to go forward from here ..
seems super bullish tho.
For Education purpose only
Last weekend shared chart with triangle pattern.
Bank Nifty : (Daily chart Follow up)
Triangle BO done
Retest done.
Now can reverse from this retest level for 35000
Dtd 21th May :@TheCharts
Its a Weekly Analysis... Study is for medium to Long Term
Buy Symphony at cmp 1074 Stoploss 945 Target 1500,1630,1880
Study: Downward Trendline Breakout And Retest Structure
