CHANNEL PATTERN/ FALLING WEDGE BREAKOUT.
PERFECT ENTRY WOULD BE AFTER RETESTING
IF YOU WANNA TAKE RISK THEN BUY @CMP
ENTRY: 245
SL: 229
TARGET: 270
RR IS 1:1.5
DISCLAIMER: EDUCATIONAL PURPOSES ONLY
DAILY SWING CALL // Thursday 06th of May 2021 // NSE:KIRLFER
// 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: 219.15
TARGET: 252+ (15% Around)
STOP LOSS:...
This chart is at the request of a well wisher.
The stock has been moving in channels within a bigger channel and is now hanging in near the top of the channel for quite some time with accumulation going on.
A positive divergence suggests the stock is quite ready for an up move.
There are chances of false breakout here. As the indicators are showing a buy call but the chart is forming a double top and also on the verge of forming the third top which will consequently show a fall in the chart. But I am expecting a false breakout which will eventually turns out that the chart will form another pattern irrespective of double top.
