ashwanipathak

Long: 1521.60 SL: 1441.54 Target: 1784.27 RR: 3.51

Long: 94.25 SL: 87.50 Target: 105.18 RR: 1.63

Long: 379.9 SL: 350.38 Target: 485.62 RR: 3.63

Long: 331.10 SL: 294.57 Target 1: 387.45 RR: 1.53

Long: 116.05 SL: 106.88 (CBSL) Target 1: 129.65 RR: 1.5

Long: 507.65 SL: 483.45 Target 1: 548.52 Target 2: 580.44 Target 3: 586.50 RR: 3.28

Long price: 221.35 SL: 210.35 Target 1: 238.55 Target 2: 244.80 RR:1.52

Wait for volume to break. Observe only volume indicator as momentum indicators does not work better in sideways price movements. Wait for breakout with good volume.

Wait for a high volume breakout before entering..

Refer: http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:bump_and_run_reversal_reversal

Wait for breakout..possibly could end up as fake out.

Looks like after descending triangle, a bearish pennant is on the way..still wait for a major breakout as BNIFTY is forming an ascending triangle.

What do you think?

Previously also HINDPETRO broke resistance, do you think it will again do so?