Symmetric triangle breakout in solar industries.
Today Important Supply Zone (2940-2970) as well as Major resistance broken with good candle and volume.
For further upside rally, stock has to close above 3000 with good candle and Volume.
Stock has a potential to reach 3500 level.
Previous supply zone should act as support now. Idea SL -2800 and for risk...
In a daily chart we can see that, kotakbank is in a crucial zone and forming symmetric triangle pattern and we also see that it is in important demand zone that we marked in chart wait for the proper breakout with volume. Do your own analysis before investment. it is just my view on the stock, not recommendation.
Ahead of Results , broke the symmetrical triangle inside the channel ,took retracement on nifty correction for last 5 days , if results are good , can expect a big break through
Hi Traders,
In hourly time frame, I can see 2 patterns:
1. Flag Pole
2. Symmetrical triangle.
For both the patterns, following would be the targets:
1. Break-Out i.e Bullish - 1st Target : 36000
2nd Target : 36200
2. Break-Down i.e Bearish - 1st Target : 35700
2nd Target :...
A Symmetrical triangle is a clear cut indication of consolidation followed by a breakout.
Note:
Avoid the stock if a big gap up or gap down is seen
Enter after the breakout happens and not before it
Do not chase the market, i.e., do not get involved in late entries
Only enter with strict stop-loss and target
This is not a recommendation and is for...
Even after a bearish nfty and bnknfty move last session this trade is still not messed up just some new trendline adjustments and here we go again looking for BOB ( buy on breakout ) /////
Keep an eye :)
