EXPLANATION : This is a 4 hour time frame chart of LARSEN & TOUBRO , It has formed Rising wedge pattern breakout also formed head and shoulder pattern . Ideal entry is breakout and retest of Rising wedge pattern & Right shoulder of head and shoulder pattern . Enter as per your setup .
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stock given breakout at both daily and weekly time frame.
its trend line break out.
support mark on the chart if it close below that level on daily closing basis exit.
Multi-Year Breakout and also Ascending triangular pattern breakout with huge volume can be seen in monthly timeframe chart which makes the trade's success probability very high, would suggest to go long with the buy on dip till 600 level for the Ultimate Target of level 820 (FIBONACCI IS CONSIDERED WHILE DECIDING THE TARGET), go long with strict stop-loss of 520...
The stock was in a downtrend with contraction between the upper and bottom resistance lines, forming a wedge pattern.
It has broken out of the pattern with substantial volumes.
Position can be taken near current price, keeping the stop loss near 216 levels, for a short term target of 232.5.
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Wedge forming on 3H Chart of AFFLE INDIA. BUY CMP, Support 4070, 3950, 3880, 3750. Strong Resistance in the 4300-4400 range. A Daily Close above 4400 will push the price upwards towards the 5000 mark. I'm learning chart patterns as of now. You can plan your trades accordingly if you know how to trade these patterns.
