Channel breakout on Nifty Healthcare indexNifty healthcare index broke out of channel pattern with multiple support and resistance level tested. Looking at the strong bullish breakout, there appears to be a good 5-7% potential with low risk of around 2.7%. Stoploss can be had just below breakout candle with target the width of the channel. This gives an ideal risk reward of 1:2 depending on where your entry is.
Hope you like this idea, if so please boost this idea or leave a comment below on what you think. Otherwise happy trading :-).
NIFTY_HEALTHCARE trade ideas
NIFTY HEALTH CARENifty Health Care Daily Chart
Perfect M pattern (Double top) formed
When Daily candle will close below 9415.75 then it will fall down to 8986
One more confirmation : RSI Diversion
Hence all scrips are coming under this NIFTY HEALTH CARE will be coming down. CIPLA, DIVISLAB, DRREDDY are following this pattern Just Watch.
Thank you very Much ASTA
Nifty Healthcare IndexKeep an eye on the healthcare index as it is in a good position to BO the long term trendline.
Positions in any of these charts can be done once the BO occurs and based on the individuals chart Analysis.
ABBOTINDIA
ALKEM
APOLLOHOSP
AUROPHARMA
BIOCON
CIPLA
DIVISLAB
LALPATHLAB
DRREDDY
GLENMARK
GRANULES
IPCALAB
LAURUSLABS
LUPIN
MAXHEALTH
METROPOLIS
SUNPHARMA
SYNGENE
TORNTPHARM
ZYDUSLIFE
