Amar Raja Energy & Mob Ltd Analysis!

ARE_M Daily Analysis!
Symmetrical Triangle Pattern formed in $NSE:ARE_M!
Symmetrical Triangle Pattern breakout in $NSE:ARE_M!
RSI Bounced Back from 50 Level

ARE_M formed a Symmetrical Triangle Pattern on the Daily time-frame. The stock is being in the uptrend by taking support on 50EMA. We can clearly see the breakout to the resistance trend-line with sufficient volume. RSI also bounced back from 50 Level. We can ride the rally with strict stop loss. Last candle has given a breakout we can enter either in the upcoming trading session or after retest. The important levels are on the chart itself, please have a look on it.

Trade Psychology and Setup:

Entry = Current price level is good to enter(865-870)
Target = 1052.15
Stop Loss = 809.90

Disclaimer = All my analysis is for Educational Purposes only.

Before entering into any trade -
1) Educate Yourself
2) Do your research and analysis
3) Define your Risk to Reward ratio
4) Don't trade with full capital

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