NSE:EXPLEOSOL Broke out from cup and handle pattern and is consolidating in rising channel pattern.
Price near trendline support. Short term traders can take a trade with a tight stop loss and go for 1:5 Risk reward play.
Low momentum/volume candles near support show that price is ready to take big support.
SAFE TRADERS WAIT FOR PRICE TO MAKE GREEN CANDLE...
NSE:ICICIPRULI Formed Rising Wedge Pattern.
Also It's trading near Major S/R Zone.
If it falls below 537, we can expect good fall. Else it will continue inside the pattern.
It can also reverse from trendline support or major S/R (537) zone.
Why to watchout this stock for short selling:
Tick 1 : Bearish pattern formation.
Tick 2 : Stock consolidating on 200 DMA which is acting as a strong resistance.
When to take a position:
Breakout of the wedge is the right point to enter with a stoploss of 50% of the range in which stock is moving.
** Manage your risk and trade with proper analysis..
