This chart is made at the request of @Santosh7856.
CMP 143
Even though the stock has finally broken the resistance of the recent ascending parallel channel which is a great sign, the stock still faces 2 resistances from long descending parallel channels i.e from September 2016 and June 2018.
The catch here is the stock looks positive and is supported by MACD as well but only because Nifty might need to take a breather after such a long rally which is why I am in doubt and would ideally not enter at this moment.
Above 158 is quite safe to enter for a long journey as it becomes a very strong support.
The immediate 2 targets are indicated in green lines with the percentage of expected returns.
*****
Help Me to Help Us.
I believe in keeping the chart simple with minimal drawings & easy to interpret.
So kindly express any disagreement & improvements so that we learn & earn together.
Please support the effort and appreciate it with a Like if you felt it deserves it and Following me would only add on to the motivation.
CMP 143
Even though the stock has finally broken the resistance of the recent ascending parallel channel which is a great sign, the stock still faces 2 resistances from long descending parallel channels i.e from September 2016 and June 2018.
The catch here is the stock looks positive and is supported by MACD as well but only because Nifty might need to take a breather after such a long rally which is why I am in doubt and would ideally not enter at this moment.
Above 158 is quite safe to enter for a long journey as it becomes a very strong support.
The immediate 2 targets are indicated in green lines with the percentage of expected returns.
*****
Help Me to Help Us.
I believe in keeping the chart simple with minimal drawings & easy to interpret.
So kindly express any disagreement & improvements so that we learn & earn together.
Please support the effort and appreciate it with a Like if you felt it deserves it and Following me would only add on to the motivation.
*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.
