NHPC formed a triangle pattern on daily chart. With the formation of double wick on initial test of support, there was a reversal in price action. There seems to be a strong support at this level. Price broke out of resistance that was tested previously at least twice. However there was some selling on the same day of breakout. Following day price tried to move up but sellers brought it down but not a lot. This gives an ideal entry with low risk. Note the low volume on consolidation before breakout and above average volume on the day of breakout.
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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
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.