Duration:- 4 to 5 Weeks ✅
The stock has already breakout through the resistance line and showing a bullish candle, which is an indication of upside move, so we can buy this at market order. Use proper stoploss and maintain discipline throughout the trading period and use trailing stop below all the wave.
stock name : syngene international
call type : equity
reason of buying :
continous taking support on trendline
and forming a descending triangle
(forming a compression)
best place to buy
buy around 600 on support
sl 560 target 750
Positional Trade: Syngene International has been been witnessing successive bouts of compressing volatility since April. With Fibonacci Ratio confirming, it is now on the cusp of coming out of the pressure zone with rising bouts of volatility.
Buy: Syngene Internaitonal
Stop Loss: 579
Holding period: 1 Month
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📌 Strategy: Beautiful and long consolidations like this are not only amazing but also tells the story of a mover in making.
🗝 Pattern here is a symmetrical triangle - meaning bulls and bears have the same amount of power until the day of breakout or breakdown
🔰 Hello my friends, here is the story I see behind this stock:
⭐Fibo: Retraced 50% in the near term swing high and swing low = bullish sign
⭐It's a triangle pattern here also if u see it carefully its kind of A big cup and handle type too :)
⭐Volumes: Today's volumes on 1hr are huge too
⭐Trade is possible only if it closes near the 610-620 LVL range :)
The stock of Syngene, in a good uptrend since the beginning of April, appears to be consolidating for the past three week. Whatsoever, the trend remains bullish the price lies above the 20-SMA, indicating that the stock is still inclined to an upward move. Also, a rising trend line support coincides at current levels, making it a considerable support. The stock is...