NSE:ENIL forming inverted flag and pole on weekly charts, showing very high chances of breakdown from flag
once it breaks down from flag's trend line could be very bearish
A Rectangle/Darvas Box breakout happened at 185 on Weekly Chart of ENIL. BUY CMP/227.10 -> 270, 283, 330, 350, 385, 410, 435-40 Support/SL 184, 169, 140, 120. I'm learning chart patterns as of now. You can plan your trades accordingly if you know how to trade these patterns.
ENil can give a range bo , but it has already moved decent which makes it bit risky.
can buy above 194.4 keep sl below 190 for intraday.
for swing trade keep sl according to your risk appetite i will use 175 as Sl for swing
Disclaimer:I am NOT SEBI registered. THE OPINION GIVEN OR THE CHARTS PRODUCED HERE ARE FOR MY PERSONAL REFERENCE ONLY AND THEY ARE NOT ANY BUY OR SELL RECOMMENDATIONS. Kindly consult your investment advisor and family members before investing.
Just Look at volume candal below the chart. this is volume come from Rajstan Global Securities Pvt Ltd. The Fund is bought 2,70,695 share from the market at 157.4 which is 0.6% of the traded volume of the day. after buying from the institution the stock is gonna go above 200 which is pre-covid level for the stock.
Good range to look fresh in between 150-160.. stock is trading above 200 day EMA.. Consolidated since last 4 months.. Breakout about to happen..
Refer chart for all important levels..
In longer time frame it is in established uptrend.
In weekly , price at ascending channel support.
In daily regular bullish divergence is seen
with a sl - 730, 1st tgt - 950, 2nd tgt - 1050
