The stock is on the cusp of the breakout of its resistance. It tried to breakout but was unsuccessful on Friday, 3rd September.
There has been in increase in volumes in the past few days, and the RSI indicator is bullish, suggesting a possibility of breakout soon.
Initiate the trade ONLY if the stock is sustaining levels above 2100, for the targets stated in the chart.
The stop loss can be maintained at 1996, or you can refer the fibonacci retracement levels given in the chart and place a stop loss basis your own risk profile.
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There has been in increase in volumes in the past few days, and the RSI indicator is bullish, suggesting a possibility of breakout soon.
Initiate the trade ONLY if the stock is sustaining levels above 2100, for the targets stated in the chart.
The stop loss can be maintained at 1996, or you can refer the fibonacci retracement levels given in the chart and place a stop loss basis your own risk profile.
Please follow us for more trading setups like these.
If you have any queries/suggestions related to above pattern, feel free to type below in the comment section.
Do show your love by pressing the like if you liked the idea.