TATA ELXSI Symmetrical Triangle Breakout
A symmetrical triangle chart pattern represents a period of consolidation before the price is forced to breakout or breakdown. A breakdown from the lower trendline marks the start of a new bearish trend, while a breakout from the upper trendline indicates the start of a new bullish trend.
PIDILITIND has formed Symmetrical Triangle on Daily Chart.
Retested at Breakout Level.
RSI (14) Above 60 on Daily, Weekly, Monthly
Targets can be 1925/1950
SL 1758/1760 (on closing basis)
Note- It is for Educational Purpose only. Consult your Financial Advisor before taking any trade.
1) Fresh Breakout
2) Good Volumes
3) RSI (14) Greater than 60
4) Vaccine Approval
Note- This is my View, & for Educational Purpose Only. Please Consult your Financial Advisor before taking any position.