Li Auto :
- stage 2 breakout
- breakout in week2.5.2023
- above average volume
- RSI Rangeshift
Price, Volume and MA all confirm Stage 2 breakout and today it showed a continuation breakout at open with a gap up which is ideal buy for retail traders
- BB outside inside on daily
- W pattern on D
- Spinning top with high volumes on Weekly
- Weekly at RSI 40 Support
Trade setup :
Entry : 2350
SL : 2290 (60pts)
Target : 2470 (120pts)
R/R : 1:2
Nifty is forming flag section of the pole with resistance at :
R1 - 17950
R2 - 18210
R3 - 18350
R4 - 18605
There is also a gap formed between 17622 and 17675, a 53 point gap which may or may not be filled.
If Nifty comes to fill this gap, it may reverse from R1 (18210) and come down to 17622 which is 588 points and it may be in the form of profit booking on...
It's usually difficult to find Inverted H&S and it takes a lot of practice to arrive at certain chart patterns.
Here's an inverted Head and Shoulder pattern in Idea and it broke out today.
Target is huge and Idea was anyway oversold.
Leave in comments what you think ?