I would like see the current high 196 taken out before i enter into a trade. The rectangle above the cup has to be broken as resistance is felt in that area. The stock is above 200 EMA and 50 EMA is above 200 EMA so even at 196-198 levels a good $40 move very much possible with stop loss being the lower rectangle around 182 184 levels. Also waiting for Stochastic...
4 Hour Chart. Sitting on 200 EMA Break down today? Then possible 270-280 levels. Personally i will enter a buy above 314 only. I do not do short trading. UnFashioned trader.
Smaller cup and handle. So safe exit should be around 1490. Important watch the VOLUME..,
Well. I will prefer to wait for a close above 200 day EMA. Else it could be a so near but so far trade!! Because even above 200 day EMA entry we can still make about Rs 100 to 125. Patience is the key.
probable 600 rs trade. 4H Chart. Red to Green above green line buy for a 500 to 600 move. 17400 to 17500 possible.
If regression trend breaks and 200 day ema broken along with 50 day ema.. problem starts...