prem_sharma_03

prem_sharma_03

Levels are marked on the chart

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All the levels are marked on the chart.

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SL below the bottom line

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Chart!

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Details on chart

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price action.... red vol rising

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THE VOLUME AT THE FIRST TOP IS HIGH COMPARED TO THE VOLUME ON THE SECOND TOP. ALSO, THE DOUBLE TOP IS CONFIRMED BY THE HIGH VOLUME AT THE BREAKOUT OF THE NECKLINE. EVEN THOUGH THE PRICE AS OF NOW IS ABOVE THE NECK LINE, IT WILL GO BELOW THE SOON.

prem_sharma_03

The script was forming a pennant pattern and has also crossed the resistance of 68. A clear indication of the breakout can be observed on the 1Hr chart.

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I THINK ITS CLEAR FROM THE CHART ABOUT THE CUP AND HANDLE FORMATION

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THE SCRIPT IS IN UPTREND ON HOURLY AND 30 MINS CHART. IT HAS CREATED A DOUBLE TOP AND THE PRICE IS EXPECTED TO FALL ON THE TREND LINE. IF IT BREAKS THE TREND LINE THE GO FOR SHORT OTHERWISE WAIT FOR THE DOUBLE TOP BREAKOUT.

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INTRADAY CHART

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TRIANGLE PATTERN IS FORMING

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LEVELS MARKED ON THE CHARTS

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On the daily chart, ZEEL is in a downtrend. The 100 EMA acts as a resistance, considering the past price action. Another 10-12 points upward movement is expected before break-out is expected.

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PLACE STOP LOSS SOMEWHERE NEAR 450

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WAVE ANALYSIS

prem_sharma_03 Updated 

BUY ABOVE 445 TGT 447-449

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let's see what happens