A symmetrical triangle is generally regarded as a period of consolidation before the price moves beyond one of the identified trend lines. A break below the lower trend line is used by technical traders to signal a move lower, while a break above the upper trend line signals the beginning of a move upward.
The formation is in place but the breakout is yet to happen so we will advise you to take a position only on the confirmed breakout of these trend lines and as a confirmation sharp increase in volume at the time of breakout will strengthen our report
PLAN OF ACTION :
BUY Tata Power above 102SELL Tata Power below 91Targets and stoploss will be given later once the breakout is confirmedPlease follow this blog as we will revise the breakout levels if time passes by
Heeta Luthra, Technical Analyst
Team TopdataIndia
Your feedback and comments are always welcome. For any issues with understanding the content please mail us on info@topdataindia.com
Like US on Facebook www.facebook.com/topdataindia
Follow us on twitter @topdataindia
No comments:
Post a Comment