Disclaimer: This is NOT a recommendation to trade, but my own observation. Please do your own analysis before entering positions.
Reasons to Buy:
1. A good breakout with HH, HL formation out of a Triangle pattern.
2. Stock consolidating at higher levels.
3. Lows are being protected in this consolidation.
Entry : CMP
SL : 2513
Godfrey is in a Triangle formation and this is the chance to catch this stock on it support. Keep a stop loss at 1620 and expect targets of 2030 when the triangle is broken and the consolidation ends. Expect a very sharp move after breakout.
Should see breakout horizontal and symmetrical Traingle with volumes.
Already volume spikes.
SL will be below that horizontal support after breakout.
Keep a tight SL.
Only trade after the Breakout.
Target maybe ATH.
That's around 1:4 RR.
After a few bearish days, many stocks broke out fro. found bases wipro breaks out of a superb triangle pattern and looks promising
to go upwards.
it is at its bottom and very good chance for a long term trade or even investment based purely on technical analysis
stop loss below the triangles support
Keep It Simple
Britannia has formed a beautiful bear trap and gives a perfect entry opportunity on above average volume taking support from the base of its triangle pattern.
Target can be taken as the height of the triangle.
Stop loss below the bear candle
Psychology behind the bear trap:On the break of the support, many people would short the market in hopes of it falling...
Rategain in forming a very very big triangle and is likely to give excellent returns post breakout. The triangle formation is clearly visible in the chart. Trade only on breakout for targets of previous high. Rategain is a big proxy play to the hotel industry and should be kept on radar.
$TOMOBTC looking for the doge kind of accumulation brreakout within the end of the year once break the resistance lines which is there for years then its gonna moon shot some serious fireworks expected if btc doesnt spoils the party .Remember the more time price action tests the support / resistance the less strong it becomes and more likely it breaks...
As predicted in early post Nifty remains in Complex Correction i.e Triangle , Good news is Big Move around the corner.
Technically on the daily charts major Nifty Spot Trend line support comes @ 16900 whereas minor resistance on the upside is capped around 17466 level.
Closing above 17466 on upside we are heading towards 18300 .
Closing Below ...
KPIT has delivered stellar returns to the investors in the past two years. Stock is currently trading at the support level of a Descending triangle pattern. If it closes below the 600 level, it can fall further to 500 levels. However, if it breakout from the pattern, it can reach its previously high levels.
Cheers! This is as per my Analysis. Feel free to share...