Trident made a high of 16.95 in the week ended 4th Jan 2021. Since then, the stock has consolidated for many months between 13.50-16.
This consolidation/down move is represented by the red trendline on the chart labelled "short term resistance tl"
Friday's close brings the stock on the cusp of a break out above the above mentioned trendline.
Once the stock clears...
DAILY SWING CALL // Tuesday 16th of March 2021 / NSE:TRIDENT
// This is a swing trade call and not an intra-day trade. Please do not expect the stock to go up on the same day of posting or within a few sessions. Please follow the notes along with the posting before, during and after entering the trade //
CMP / LTP: 15.35
TARGET: + 17.65 (15% Around)
The black rectangle is a supporting zone and Blackline is the resistance zone.
If it crosses above the resistance level and sustains it then maybe it will reach our targets.
Note: Do your analysis before taking any action and take responsibility for your action.
Everything is marked on the chart-- Swing points, trend lines can be used for trading along with some momentum indicators.
Try to look out for a confluence of these parameters, don't trade solely using any one of these parameters.
P.S: This is NOT investment advice. This char is meant for learning purposes only. This is my personal journal. Invest your...