Stock is in uptrend in Monthly& Weekly Charts. Daily charts indicating a consolidation forming Symmetric Triangle pattern. Today price action indicating bullish breakout of pattern with big volume. Ideal candidate for short term gains. Levels mentioned on the chart
Rational : 1. Explosive move (Flag Pole) 2. Consolidation (Flag) 3. Breaking out on upper side with big volume, indicating interest in the stock. Today price action indicated trade setup may work because price rebounded from trend line.
Trade setup: Entry : CMP. SL : 27.5 (Swing low) Target 1: 36 (Origin of fall). This trade offering 2:1 RR if it works as planned
Stock is clearly in Uptrend in HTFs. In daily Charts, after explosive move, consolidation is seen. Thereby price action suggesting a Flag Pattern. Traders can initiate a long trade at current levels. Trade setup is mentioned on the charts.
Dr. Reddy's is trending up in Higher Time Frames. After recent explosive move, stock is consolidating. Thereby forming a Flag formation in Daily Charts. CMP is coinciding with .618 Fib Retracement.
Trade Set Up. Enter @ CMP(4670) SL : 2% from Entry. Target 1 : 4900 Target 2: 5025.
Its offering 3:1 RR
CEAT poised for a leap. In HTFs extremely bullish. In Daily charts, Price moved up above recent high with big volume. Price making Higher Lows. Bit of consolidation seen recently. Trading above Trend line. Pullbacks rebounding from recent high, suggesting recent Resistance is becoming support.
Stock can give a decent return in short-term from current levels. SL...