NSE:RAYMOND Can consider Raymond Triangle Breakout for Swing trade with lower trend line as SL on closing basis. Try to take the trade once it retraces based on you RR.
Can look for 902, 300 and 310 as reward. Let me know for any queries. Please like, share, follow for more updates.Thanks.
Please follow these rules before taking a trade :
1. A triangle pattern is visible , so take a trade only why it breaks in the positive side in our direction.
2. Buy at 2nd green candle in 15 min or 5 mins chart frame.
3. Keep a trailing stoploss with Rs 10 in mind.
The stock has been consolidating for some time now. And also created a clear triangle pattern if broken can give an amazing momentum.
These are the levels:
Buy above 240.55
Sell below 238
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...
Market Facing little bit of resistance at 76 region.
If it broke above it , You can see some nice rally near future till 82 to 83 .
Below 73.5 This setup is invalid .
Let see what will happen .
If you have any suggestion for me please let me know .
Nifty - Technical Analysis:
-Nifty ended flat today, after opening above 11550 it made lower highs forming a triangle pattern
-Closed at 11535, breakout to be seen from the triangle on Friday
-The markets traded with lacklustre volumes with no definite direction. If we need to see higher levels, we need to cross the resistance of 11600
Market - Driving Factors:...
Reliance seems to be in a 4th Wave Elliotwave triangle. An agressive trader could go long now with a SL below the wave e ( red line) . A conservative trader could wait for the blue line above to be broken ( wave d high) and then enter. Thrusts out of triangles are swift and sharp