Edelweiss -> Waiting for Breakout ?
Since the beginning of November, the stock has gained 24%. It is currently forming an Ascending Triangle Pattern. Based on the pattern scenario, we can expect the price to fall to the 62-60 level before continuing to rise.
Currently price in the range of 67 Rs,If the pattern continues on the higher side, the price may rise to the next resistance level of 94 Rs, and if the pattern continues on the lower side, the price may fall to 49 Rs.
Only if the 49 Level is broken can the trend be reversed. Otherwise Accumulate each dip
Target has been decided based on Demand Zone
Happy Trading
Since the beginning of November, the stock has gained 24%. It is currently forming an Ascending Triangle Pattern. Based on the pattern scenario, we can expect the price to fall to the 62-60 level before continuing to rise.
Currently price in the range of 67 Rs,If the pattern continues on the higher side, the price may rise to the next resistance level of 94 Rs, and if the pattern continues on the lower side, the price may fall to 49 Rs.
Only if the 49 Level is broken can the trend be reversed. Otherwise Accumulate each dip
Target has been decided based on Demand Zone
Happy Trading
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