Fantastic real-time TRIANGLE pattern on ITC
This is NSE equity stock and all level are for equity.
This is a perfect example of Triangle and already completed 5 waves in it. Ready for a breakout. Suppose to breakout, you will get new direction with a spike.
How to detect the direction side of SPIKE(means big and surge move)! Changing in volume will provide you...
1. As per the chart, nifty is formed double top & raising wedge pattern also seems ascending triangle pattern. As per the pattern formation nifty should come next resistance of 11371.
2. Fib level swing high to swing low is showing .5 fib level ( golden ratio) 11371..
Most probably we expect nifty will fall in coming weeks.
Target is 11371.
NTPC after falling nearly 18 % from its highs has been consolidating in a range.
It has formed a nice base .
Long buildup is seen in the stock where in OI rose by 1.6 % today.
Option chain is suggesting a good support at 117.50.
This stock is a buy with a price target as below.
T1 :- 127
T2 :- 133
T3 :- 143
Kindly scale out your position on T1 / T2 and T3...
MOMENTUM TRADE IN AMBUJA
-BROKE OUT OF SYSMMETRICAL PATTERN
-RETEST THE BREAK-OUT LEVELS WITH A PULLBACK
-ABOVE CRUCIAL RESISTANCE
-RISE IN OI + RISE IN PRICE
CHECK THE PREVIOUS IDEA
MOMENTUM TRADE IN AMBUJA CEMENT
-RISE IN PRICE+RISE IN OI
-BREAKING OUT OF SYMMETRICAL PATTERN
-MOMENTUM STRATEGY APPLIED