CMP- 42.5
Ascending Triangle formation
Above the resistance of 43.5 can touch 46.5
RSI is favorable at 58
Today it gave a breakout of 43.5 with volume but even if it doesn't close above 43.5 today , it may do so in days to come.
Keep a close watch.
Ascending Triangle formation
Above the resistance of 43.5 can touch 46.5
RSI is favorable at 58
Today it gave a breakout of 43.5 with volume but even if it doesn't close above 43.5 today , it may do so in days to come.
Keep a close watch.
Bình luận:
Today Nifty showed very good strength especially after breaking above the rising wedge. My Nifty chart is available for reference. So with this positive indication coupled with GMDC also showing strength today, lets expect it to cross 45.5 - 46.5 next week which has been a strong resistance zone.
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Tip: Always keep a stop loss no matter how good the markets are. You can ignore a target but never ignore a stop loss based on your risk appetite because that is the only best friend in the market.
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On the 15minute chart I see a sudden accumulation. Expecting a big move late afternoon or tomorrow.
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The price broke out of the lower side of the triangle. However, keep a close watch and it is advise able to keep a stop loss at 40.9
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Bounce -support - bounce - support. Lets see Mondays bounce back or fall.
Bình luận:
Enter after it closes above 46.5 to be safe but a little risky investors can take it above a close of 43.3 Stop loss 40.9
Đóng lệnh: dừng lỗ
Bình luận:
A revised chart of GMDC has been posted.
*DISCLAIMER*
For educational purposes only. Not a recommendation.
Treat StopLoss as your best friend to get you out of troubles.
For educational purposes only. Not a recommendation.
Treat StopLoss as your best friend to get you out of troubles.
If the price falls below 39.65 due to a weak Nifty or any other reason then the pattern fails which is exactly where a strict Stop loss is to be maintained.