NSE:INDIACEMOn weekly charts ,there is a breakout from flag pattern and triple bottom has been confirmed. the pullback of the flag coincides with 50% fib retrace. Long positions may be initiated at a throwback to the flag or after consolidation breakout on lower time frame . Its trending above its 200,62 and 13 period EMA and after bullish crossover of 13,62 EMA has taken support on 62 EMA.
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Throwback has occured today ,if the price holds 190 levels ,longs can be initiated.
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Zlecenie aktywne
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piercing pattern formed at support on hourly chart . longs were initiated just above the piercing pattern and the red trendline
FRIEND WHAT IS THE LIKELY TARGET, I SEE TO BE 222 AND 244, WHY DON'T YOU PLEASE ANALYSE AND PUT FORTH. THANKS GBU
atul4b95
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@bnjanamatti, yes very true for short term traders immediate target will be 220-222, and as per measured move , the longer term target would be 160+(220-110)= 270.
from 110 to 220 is the length of the pole , and the target is projected from the lows of the flag ie around 160.
Also the stoploss for short term traders would be around 185 and for long term investors 160