NSE:PFC
breaks its 2 yrs résistance.
also ready to coming out from 10 yrs channel pattern.
buy on dips SL- below the zone.
#LONGTERM STOCK
#the_pravin #simPlepriceaction #notoindicator #nakedchart #swingtrading
Clear Inverse HNS pattern formation in PFC which is a positive signal to go long in the stock
CMP is 139
SL is 119 (Daily closing basis)
Target1 is Rs 156
Target2 is Rs 169
Target3 is Rs 200
Do your own analysis before investing.
PFC is at the verge of multiple pattern breakout in monthly timeframe
1. 4Y double bottom pattern
2. 2Y inverted head & shoulder pattern
3. 10Y trendline breakout
Plan your Trade & Trade your Plan
Up trending Stock
Inverse Head & Shoulders Pattern Breakout
Retest to H&S Neckline
Fib Rejection from 50% level
Entry can be done with confluence from lower timeframe like 5min or lower if you like.
Let uptrend be confirmed in lower timeframe and place your stoploss by looking at higher time frame.
In this self explanatory series i will be posting charts with pure technical analysis only without full length explanations , Traders can ask their doubts in comments section, Happy trading.
Disclaimer : This idea was to just give you an insight about my own view and personal observations. Please do your own research or consult an investment advisor before doing...
Stock is trading near strong supply zone and this time it looks like stock will breakout wait for weekly close above the supply and buy for given targets.. Purely for education purpose research on your own before investing
