15 Years of MultiYear Consolidation & Breakout at USHAMART15 Years of #MultiYear #Consolidation & #Breakout at #USHAMART (Usha Martin Ltd.) Weekly Chart It #outperformed the #Nifty.
BSE: 517146
NSE : USHAMART
Note - Please do not buy here because it has already moved 20% in two days. Before purchasing, wait for a correction.
SL 1 - 131
SL 2 - 122
SL 3 - 104
Please keep up with the weekly closing basics' stoploss.
Symmetrical Triangle: A symmetrical triangle is composed of a diagonal falling upper trendline and a diagonally rising lower trendline. As the price moves toward the apex, it will inevitably breach the upper trendline for a breakout and uptrend on rising prices or breach the lower trendline forming a breakdown and downtrend with falling prices.
Traders should watch for a volume spike and at least two closes beyond the trendline to confirm the break is valid and not a head fake. Symmetrical triangles tend to be continuation break patterns, meaning that they tend to break in the direction of the initial move before the triangle formed. For example, if an uptrend precedes a symmetrical triangle, traders would expect the price to break to the upside.
ONLY FOR #educational
NOT SEBI REGISTERED. #LEARNEARN (TRUST YOURSELF)
#nifty50 #sharemarket #BREAKOUTSTOCKS #Multibagger #sharemarket #sharemarketindia #sensex #technicalanalysis #Chartanalysis #headandshoulders #doubletop #doublebottom #parallelchannel #relativestrength
DISCLAIMER: I am not SEBI registered analyst. All posts are for educational purpose only. I am not responsible for your any loss or profit. Consult your adviser before taking any trade. I help people to learn technical analysis & charts reading.
