Edelweiss hourly chart- Stock is now sustaining above 250 after consolidating below that for last 2 weeks. Breakout of range between 235-250.Any small dips colase to 250 can act as entry point. First target 265. 20 EMA can be used as trailing SL.
Weekly flag breakout with high volume.
Target is open but acc to pattern given as height of the pole.
SL is place at the low of last candle a.k.a new support.
Operating in Consolidation Triangle.Will wait for the break out. Volumes seem low, Triangle completion expected
LTP @ 174
Short term in this week, @166
To watch: How it breaks the triangle.
Edelweiss has been in Rally for some time. Has seen one consolidation triangle and forming second one. Volumes look promising for another burst post consolidation.
We saw the bearish candle stick pattern, Dark cloud cover for Edelwiess. The recommendation was to short this stock . Today there was a tug between bulls and bears spinning top formation. In the end the stock has closed in positive territory. I missed the opportunity to buy at 138.40 early in the day (my offer was for 138.50). However, when I entered the bulls had ...
This is a classic pattern that has formed with Edelwiess. This dark cloud cover pattern meets all the criteria that you would look for while trading such patterns.
1. The previous white candle body is long
2. There is a recent spike in volumes in the earlier trading ranges
3. The previous white candle has a gapped up opening
4. Stochastics are at an overbought ...
