TRIANGULAR BREAKOUT & TRENDLINE SUPPORTAfter forming back to back red candles from last 9 sessions, stock has seen some profit booking today. Also taking support of the lower trendline it has given a breakout from triangular pattern.
It has also witnessed some strong OI today and a positive price change with strong OI clearly depicts long build up.
It could rally more for coming few sessions. Let's wait for some price action.
Keep a close watch on 15-VWAP for intraday!
Important support: 352-356 levels
Disclaimer: Take this view only for educational purpose. Trade on your own risk.
Happy trading!
Trendlinesuport
Mindtree | Trendline Support - DailyBreaking down after consolidation, the stock has now hit the Trendline support at around 900. Also 38% Fibonacci levels coincides at the same price and 900 being a round number, one can expect a move up at least as a pull back for a greater bear trend as seen in chart.
(Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do not consider these as trading tips or investment ideas. Trading in Stocks, Futures and Options carry risk and is not suitable for every investor. Hence it is important to do your own analysis before making any investment or trading decisions based on you personal circumstances and it is always better to take advice from professionals)
PNB RISING WITH BULLISH TRENDLINE AND MOVING AVERAGE CROSSOVERConstant support on trendline on daily chart
20-dma providing support constantly
today there is a possibility of 20-dma crossover 50-dma
FUTURES TRADE NOV/DEC
INTRA-DAY TRADE
BUY@71.35
STOP@70.35
TARGET@73.85
IF BREAKS 74.5 AND CLOSES ABOVE
BUY@75
STOP@73.80
TARGET@83.85
LOT:5500
QTY:1
