7 years resistance taken down. excellent for positional trade.
Trendlines are marked. If abv TL is broken we may see a big rally in the metal sector (jsw steel, jindal steel, hindalco, vedanta, Hindustan zinc, etc) further too. A good opportunity for positional traders and medium-term swing traders.
You wish for confluence...here it is the KING 👑
small caps and mid cap IT stocks will rally
Aggressive buyers abv 57.7. Relaxed buyers abv 59.9.
SL: 2592. Do not see daily volumes as breakout happened in last 30 min.
Long pattern, more the consolidation more better it is. Neckline broken during last minutes.
The above pattern is some of the most powerful patterns in any timeframe and this is monthly which means we just got a positional scrip to buy.
Notice the volumes rise and the bullish ascending wedge formation. SL for swing: 147.5
Simple advice: wait for retest and hunt.
SL: 127. Spread holdings
Notice the mass accumulation at flattened levels. After continuously getting rejected from weekly 100 EMA for 3 yrs, this week we may witness closing above it but do notice that 200 EMA is also coming in the picture as well.
Also, recently broke the falling wedge but always wait for neckline at 0.618 level to be broken with good bullish candle. Sl will be below 3447 i.e. just below this swing low. This point is also the all time high before covid on 5th Feb 2018.
Targets Mentioned: 25% to 60%. Multiple confluence. TL since covid still respected. Big bullish candle and the biggest weekly volume spike in 8 months.
Only pharma. Move along with the trend. Golden ratio: 0.618 retracement and ready for boom. Take the extensions as target in positional trade.
SL: 134-135 around. Spread holdings.
Heavy volume surge + 200 EMA and 0.38 fibo retracement already done!