HINDCOPPER - Breakout & Re-test structure - Monthly chart
The above analysis is done purely based on price action and chart patterns.
The analysis is done on monthly charts, hence it may take the price few weeks to few months to reach the target.
Logic as well as the trade setup is shown in image itself. The level which was earlier acting as major resistance, may act as major support for price to move up.
Entry can be done at CMP to any pull back. SL can be around 100. Targets are shown in image as well.
The above analysis is purely for educational purpose. Traders must do their own study before entering into any trade. Traders must trade as per their own risk taking capacity and money management
Feel Free to comment for any queries regarding the above stock or price action analysis in general.
To understand the re-test structure more clearly, check out the ideas linked here - APOLLOTYRE , SCI , SBICARD
Also check out my other ideas to understand how price action works and how it can be used to make regular profits without any complex strategies.
The analysis is done on monthly charts, hence it may take the price few weeks to few months to reach the target.
Logic as well as the trade setup is shown in image itself. The level which was earlier acting as major resistance, may act as major support for price to move up.
Entry can be done at CMP to any pull back. SL can be around 100. Targets are shown in image as well.
The above analysis is purely for educational purpose. Traders must do their own study before entering into any trade. Traders must trade as per their own risk taking capacity and money management
Feel Free to comment for any queries regarding the above stock or price action analysis in general.
To understand the re-test structure more clearly, check out the ideas linked here - APOLLOTYRE , SCI , SBICARD
Also check out my other ideas to understand how price action works and how it can be used to make regular profits without any complex strategies.
