symmetric triangle pattern observed in reliance. Height of pattern ~ 250 points. Weak below 1900 for intraday strong above 1945 as it will complete double bottom on 30 minute timeframe. Trade accordingly.
if the stock succeeds in penetrating the trendline and the resistance at 144.5, we may see a big move towards 155
....
nifty cracks and then bouncing back from 14000 psychological level, thus proving the resilience of bulls.Though bears are trying their mighty best to prevent recovery of market. #personal opinion
some pattern and trendline , a lot going on for the scrip
a minimum move of 190 points in short duration and in long term a move of 400+ points
can gove good returns in long term once it crosses the zone of 190-200.
forming a weak inverted head and shoulder pattern. But i I am betting on the solid resistance breakout
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risk takers can enter at 1495,while safers can enter above 1530
Seems to be forming an Inverted Head and Shoulder. Can go long above 202
Theoretically, FLag and Pennant patterns are short term patterns that take about 3-4 weeks for completion by which point consolidation ends and the prior trend picks up pace. But in this chart the consolidation had been taking place for 9-10 weeks. And finally the much anticipated breakout has occurred and the scrip is giving the classic flag style move ! But...
can give a great move if the breakout is real