Big W Pattern/Trend Line Break good RR tradePrice has formed the big W pattern and also broken the intermediate term Trend line so one can conclude that downrend is over now and prices are supposed to move up. Prices have retested the down sloping trend line from above and bounced back. It is getting some resistence at the previous high level so one can use the retrace for a good entry. One can invest in the stock or initiate the short term Trade as the details given below
Entry 474
SL 463(closing)
Target 510
Risk/Reward Ratio above 3
Disclaimer : All ideas are my personnel view. Please take financial consultancy for trading decision.
