Some resistance around the dashed trend line.
200 EMA as support near the bottom trend line & resistance on the upside.
Hence, the stock is moving in a range.
Possibility of a breakout/breakdown.
If breaks out then go long with stop loss at the 200 EMA.
If breaks down then go short with SL at the black trend line.
Target in both cases should be...
Hi,
1. Shooting Star about to Form on the Day Chart.
2. On Drawing Cypher Pattern on 30 Minutes Chart.
3. X Point to Lowest Low Price, A Point to Higher High , B Point Form to Lowest Low of Retest Level. C Point form to Higher High.
3. XB=0.542(Near to 0.5) , AC=1.285(Near to 1.28L Level). All above level Satisfy for Cypher Pattern.
4. Assuming, XD=0.786....
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
We can expect good quarter and demand rise and company has high capex and negative working capital but we can enter for short term and take benefit of few points
Fundamentally company is good.
On Technical Ground
Buy at 195
Targets 210 , 220, 230
SL 170
It is just for education purpose ....
Your suggestion are welcome and please feed back ....
