Trianglebreak
BPCL - Triangle with Resistance.This stock is making a trend continuation pattern in weekly timeframe. A triangle pattern is always a good sign for a investor/trader.
Weekly chart for the reference:-
Some of its peers are also showing some good signs as well.
For Example Hpcl is trying to break a longer term trendline and is trying to break a previous swing as well.
If peers are also trying to break the trend then there must be something going on. HPCL Weekly attached:-
Lets come to Daily now on BPCL where it has been testing resistance again and again.Levels of 440 will play important role as it is a resistance and will create a confluence zone as trendline is also there.
Do not enter in stock until and unless it holds at those levels for a while because if new positions are not built before breaking out then it might lead to false breakout.
Avoid the stock if it keeps on going one way without stopping.
Keep and eye folks. Cheers and Happy Trading.
Disclaimer:- I am not SEBI registered.Trade with your own risk and trade with caution.
Stock might head higher towards 770/785/800NSE:AXISBANK
Stock has been trading in a bullish triangle pattern over the last few trading sessions and has finally given a breakout on Friday along with a positive MACD crossover
A decisive break above 755 will take the stock towards 770/785/800 in the coming days as long as 735 is held on closing basis.
All ideas shared are for educational purposes.
VBL | Symmetrical Triangle Breakout 🎯⭕ Swing Trading opportunity ! 4hr Chart Alert !!!⭕
-- Buy above= 910
--Target = 998
--Stop-loss = 878
--R:R =4.08
--Expected Profit = 10%
--Expected Holding = 1 Months only
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⭕Technical Reasons to trade or Strategy applied :- ⭕
1) Symmetrical triangle breakout
2) Volume is good
3) Target is based on resistance level
4) there is 50 ema breakout as well
5) Stock might retest or not
👇Possible resistance zone 👇
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✍COMMENT Below your view !
IndHotel :- Look and decide.Some stocks follow some pattern magically well.
I tried showing something which gets ignored very often.
I marked 3 triangles and their differences and even marked the exact same difference after it broke out.
Isn't it is fascinating that is exactly goes for the difference of the triangle.
2 successful triangle breakout has give us great return. Hoping for 3rd successful breakout.
Fingers crossed.
Keep an eye folks.
Cheers and Happy Trading.