An opportunity for a short term trade on the rebound
Since July of 2022, as long as the 10 SMA and 20 SMA are both in an ascending direction and when the lines are coming close to converging, the price has taken a jump...
today the price is at a similar juncture and is also at support level within a symmetrical triangle in formation.... the target of the triangle comes to Rs. 33.35/-
Stop loss will be price closing below 20 SMA or below support line of the triangle.. till now triangle is only in formation and price is far from any breakout, rather it is threatening to breakdown.. its a trade on anticipation only
today the price is at a similar juncture and is also at support level within a symmetrical triangle in formation.... the target of the triangle comes to Rs. 33.35/-
Stop loss will be price closing below 20 SMA or below support line of the triangle.. till now triangle is only in formation and price is far from any breakout, rather it is threatening to breakdown.. its a trade on anticipation only
코멘트:
please read the target at 33.25
코멘트:
Anticipation trade on yesterdays doji candle went positive... price on the cusp of breakout, but I would give it till monday as the maximum time for confirmation of the triangle breakout
코멘트:
Breakout has been confirmed
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