PRAKASH | TRENDLINE BREAKOUT TRADE
{{Trade Setup}}
1. Price in a downward channel since May. A breakout on 4th Oct, with volume. With subsequent retest & took out high of the breakout candle indicating follow-up buying post-breakout.
2. 200MA acts as long-term support.
{{Levels}}
1. Entry above 79.75. Targets of 87.4 & 99.6. SL - Daily closing below 72.
Note: Please take trades after making your own analysis. This chart is a showcase of my analysis alone, & the trade mentioned is one I'll be taking based on my convictions. This is NOT a trade recommendation
1. Price in a downward channel since May. A breakout on 4th Oct, with volume. With subsequent retest & took out high of the breakout candle indicating follow-up buying post-breakout.
2. 200MA acts as long-term support.
{{Levels}}
1. Entry above 79.75. Targets of 87.4 & 99.6. SL - Daily closing below 72.
Note: Please take trades after making your own analysis. This chart is a showcase of my analysis alone, & the trade mentioned is one I'll be taking based on my convictions. This is NOT a trade recommendation
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