CYIENT LTDLong
Falling wedge on CYIENT
CYIENT formed a falling wedge pattern on daily chart. Multiple support and resistance levels were tested before the price broke out of resistance. Currently, the price is being retested with current support level (previously resistance). Note the high volume on breakout and subsequent low volume when price falls signaling sellers are dried out. CYIENT had a strong runup prior to the pattern formation. Entry can be above the high of breakout candle with stop loss around the low of breakout candle.
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"It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong." — George Soros
"It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong." — George Soros
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