Monthly is clearly bullish with great momentum candle breaking out of the monthly resistance. A double bottom can also be spotted.
Weekly too gives a positive picture. Price has broken out of the resistances and smashed them. A pullback from this nice uptrend can be seen to test weekly...
as we witnessed a mark of 32155 couple of trading sessions ago, so now as you can see in this chart that we are on Axis point. if this 4hr candle closes below our axis point then we are in correction zone and somewhere will we find a support at 31090.
previous high (32155) to our axis point is a choppy zone, so do not enter between this range.
you can long above...
At Support Zone.
Potential Harmonic Pattern Gartley In Process...
Other Details Mentioned In Chart.
Positional View For Educational Purpose Only.
Please Consult Your Financial Advisor Before Taking Any Decision.
I am not SEBI Registered Financial Advisor.
BSE:SENSEX has recorded a All Time High today(26-Nov-19) but it was rejected by a trendline that extends from August 2018 till today. If this trendline is broken on a daily closing basis then I am expecting SENSEX to continue to the upside.
Price had fallen out of rising channel.
Stock price is back in the channel with rising volumes.
For Stop loss of 408 , this stock can be bought for a target price of 460.
The target has upside of 10 % and our stop loss is 2.77% from the current price.
Risk reward for this trade is 1:5