Search in ideas for "SUPPORTANDRESISTANCE"
Resilient Sector Stock and breakout of important resistance Rational:
1. Pharma sector is one of the resilient sector in current market fall.
2. Returning to this price level after 2 months. For the third time at this level and trying to breach the level for last 3 days.
3. Entry at the breakout of this level with SL of around 4.4%. Entry : 1370; SL: 1310; Target: Trail as per 9 EMA.
PEL is at pure Retest stage, go long once see bullish candleCheck the Daily time chart and see how many time this level become point of conflict and more than 6 times it has change the polarity from Resistance to Support and vice-versa.
Check if it create any Bullish candle on daily chart on closing basis. Good to go long.
Triangle pattern breakoutPlease look into the chart for a detailed understanding.
Consider these for short-term & swing trades with 2% profit.
For BTST trades consider booking target for 1%-2%
For long-term trades look out for resistance drawn above closing.
Please consider these ideas for educational purpose
Please note that, if there are some big targets, those are drawn thinking for long term.