CMP $4.460 as per daily chart counter is moving in accending triangle and as per this triangle primary support is around 4.040 for this session if natgas hold to manage below this level then we will see a retest of 3.70 and 3.30 in coming days.. but 4.00 is looking a reversal point and it may act as good support and reversal from that area will confirm new highs for the year.. and may rally up to 5.22 and 6.00 till nov. dec. as per this triangle we can expect a retest of 4.26 that is support of resing trend line there trader can use 4.00 as sl if want to go long in this counter for tgt of 5.20-6.00 in comming days.. a break below 4.040 will completly neglact this bullish view
LIC HOUSING FINANCE settled at 321.90 up by 5.78% on Tuesday. Stock had been staying in a consolidation phase that took shape of an ascending triangle and in today’s session it broke through the resistance line of this triangle consolidation and settled well above key resistance of 312 suggesting dominance of bulls. Stock has been staying above its 9 days SMA on daily chart keeping a short-term bullish trend in picture. Stochastic is now approaching overbought territory along with bullish cross above its signal line suggesting a strong bullish momentum. MACD has been staying in positive territory and now its parting upward from its signal line suggesting development of fresh bullish momentum. Direction and momentum are two important components for any chart to anticipate future price movement and current trend and momentum on chart provided above is suggesting bullishness. Breakout of triangle pattern can be used to determine potential destination for current move and if th...
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