The stock has been forming a cup and handle pattern , the cup has been formed already and the handle formation is underway , it can provide great returns as it posted good quarter recently and can reach to 900 levels
DAILY CHART ANALYSIS OF NSE:MONTECARLO
The Diamond Bottom pattern, also known as the Diamond Reversal pattern , is a technical chart pattern frequently used in technical analysis to identify potential trend reversals in financial markets, such as stocks, forex, and commodities. It is a rare pattern and is considered a reversal pattern, indicating a potential...
The price must sustain above 900 to confirm the pattern BO. Anything before that would be impulsive.
How many of us would let the trade develop and wait patiently for the BO to happen ?
90% of us or 10% ... Trading is not very well suited to impulsive behavior.
"Every day I go in without an opinion, and let the market tell me where it wants to go.
Opinions are...
Disclaimer: This analysis is solely for educational purposes and does not make me a SEBI registered analyst.
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1000+ on the way guys. the stock has tried to cross its previous resistance and has given weekly close just near this. i expect a gapup opening on monday followed by a close above 800 which will clearly start the trend in this stock to move 1000+.
Entry - 800
Target - 970
SL - 765
EMA 10 > EMA 21 > EMA 50 > EMA 150 > EMA 200
Price brokeout the 8 month long consolidation and retested the Break out
MONTECARLO breakout with good volume on a daily time frame, one can add at this level with SL @ 615 on daily closing basis TGT1 : 665, TGT2 : 698
Note : It's your hard earned money always trade with SL, I'm just sharing my analysis
~Monto Carlo has lost its upside momentum.
~S.L. is triggered in monto carlo.
~It is trading below the uptrend line.
~link of the previous chart is given below.
Buy Monte carlo 700, till 580 for 950,1050. Double bottom made at 450 range and stock is regularly surging higher. Today at 700 is highest weekly close. Exit if falls below 450 on weekly closing basis.
Taking support on trend line.
Retested resistance line after four and half years. So there is High probability to go up.
Volumes are rising.
Rs positive stock with strong RSI.
DON'T HAVE TIME TO MANAGE YOUR TRADES?
- Take BTST trades at 3:25 pm every day
- Book profits within the first 30 minutes of the market opening
- Try to exit by taking 3-5% profit of each trade
- SL can be taken when the 5/15 min candle closes below 44EMA
- SL can also be maintained as 1% or closing below the low of the breakout candle
The levels mentioned on...
