Likewise, consciously if your eye apparently checks the breakdown point you will get a high return. Its not actually support but its a breakdown confirmation line.
Resistance is 136.2 nearby.
134.8 below with volume increase than normal will give you breakdown trade.
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Bullish Flag pattern spotted in NTPC . Pattern seems to be confirmed and hence the stock could move towards 148. Previous top at 137.5 can act as an intermediate resistance.
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Hi all, NTPC making completion B wave of ABC structure and Head and Shoulder and Crab Pattern breakout to the upside make potential long opportunity
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Buy Range: 134.80-135.60
SAFE TGT 136.80-137
THEN NEXT TGT (LITTLE RISKY) 138.45 / 139.85
SL: NOT NEEDED.
If opens below 134.75, avoid. if opens between 134.80-135.10 target will be 136.00 / 137.40
Small traders always book first target.
DURATION: 1Day to 1Week.
NTPC LAST DAY PRICE HAS CLOSED BELOW THE PRIOR DAY DOJI FORMED.
HENCE IT IS LIKELY TO DROP UPTO 131 LEVELS.
CONFIRMATION FROM CHAIKIN MONEY FLOW INDICATOR IS DONE.
THEN, IT'S JOURNEY TOWARDS 145 IS OBSERVED.
PLACE STOP LOSS @ 130.
It might seem very head tipping to do strangle on a compression line this.
But my allegiance is with money towards the pocket instead of pleasing anyone's head.
No stop loss. Will update risk management if needed.