COLGATE-PALM
COLPAL gave a breakout from the symmetrical triangle pattern in an hourly chart.
RSI is moving upwards after taking support from 50 -level, hence BULLSIH.
TE TIME TREND TOOL IS BULLISH.
If the prices break 1372 level, the prices might move to the next resistance level 1395 & 1405.
The support on the lower side is 1325 on the Hourly Chart.
KEEP AN...
Levels are mentioned on chart for Swing trading.
Please check the description section for early entry level in given stock to get better Risk to Reward ratio.
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Early entry: 1350
SL: 1455
Target: 1320
RR: 3.5
Thank you. Happy Trading!!!
Best...
Triangle formation on daily time frame in COLPAL
One can look to go long after break of upper line for a target of 1398/1445/1515
If there is a breakdown, one can be short for a target of 1275/1223/1150
Disclaimer: These are my own views, do your own analysis before trading.
AFTER A FAILED CUP AND HANDLE BREAKOUT ITS CONSOLIDATING AND MIGHT GIVE A BREAKOUT IF ALONG WITH GOOD VOLUME, TARGETS AS PER CHART.
THIS IS MY PERSONAL VIEW ONLY, INVEST WITH YOUR OWN RISK.
Lets c if the market can support us...
pls post your comments
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Take trade based on your analysis
Buy/Short just above/below the marked line.
Typically for intraday start trailing your stop loss from 0.5% towards target
Stoploss is based on your capacity
I usually hedge towards the stoploss direction
if price opens between the target and entry line, I usually dont trade that scrip.
Keep an Eye on this trade.
If it breaks the trend line with good volume, Buying opportunity can be seen above 1370.
Target 1 - 1390, Target 2 - 1400, Target 3 - 1420
Disclaimer : Only for educational purpose. Please consult your financial advisor before putting money into the market!!!
