Hindustan Petroleum is about to breakout from long Symmetrical Triangle.
Entry can be taken once it crosses 562-565 with Stop loss at 535.
Minimum target should be placed at 640 which is calculated by height of the triangle.
Oriental Bank of Commerce just broke of Historical Resistance range of 157-161 and closed above on Daily and Monthly Charts.
It earlier broke year long Symmetrical Triangle and since then it's in a Bullish trend .
My view is that Stop loss can be placed at 150 and target can be looked at around 260-270. Risk: Reward ratio is over 1:4.
Since this is a long...
Petronet LNG earlier broke out from a long Symmetrical Triangle in January 2017.
Then it went on to form long Cup and Handle pattern. It broke out of Cup and Handle pattern in April 2017.
And now it is trading in an upward Channel. The stock is trading at Channel support range 420-425.
The risk:reward ratio is highly favorable and is a high probability trade....
