#VINDHYATEL trading above Resistance of 2030
Next Resistance is at 3039
Support is at 1405
Here is previous chart:
Chart is self explanatory. Entry, Resistances and Support are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult...
VINDHYATEL:- If you see in the stock, head and shoulder pattern has been formed, the stock had also given a breakout, but the breakout failed, but the stock has closed above the resistance even once, if the stock sustains, then we can make a plan.
As always, simple and neat charts so everyone can understand and not make it too complicated.
Weekly time frame chart so one has to hold this stock atleast for a year or more.
Stock is forming a rounding bottom pattern which will complete at around 1800 levels.
The fibo levels are also showing the strength in the stock to reach that level.
One can add it at CMP : 1230.
All levels are mentioned on the chart.
DISC: for educational purpose only.
Tech analysis has been done right .. time to take action with risk management and get the trade on time :)
Happy trading :)
The violet spots shows the higher lows made with respect to a great consolidation and now a little breakout done near resistance .... tgts are heavy with low risk :)
VINDHYATEL has been trading near the lower end of the channel, as well as near 61.8 Fibonacci level. Further, it also has been trading near the 200 EMA. If it breaks the support zone, it may take the support on the two-year Trendline(have a look at weekly chart) before starting to rally in the upward direction. It may confirm either of the possibilities in the...