MAGADH SUGAR - breakout wait for small right entry
Stock has retraced from 50% fib level on weekly chart which is string with double bottom that suggest reversal on heigher TF.
Also it broke trendline on dailiy TF and coming back for retesting the trendline or resistance turned support on Lower TF.
one can plan entry near 28-285 as Sugar stocks on breakout spree but market is in correction phase.
Please use proper R2R management.
DISCLAIMER: For education purpose only, do your own analysis or consult your advisor before taking position
Also it broke trendline on dailiy TF and coming back for retesting the trendline or resistance turned support on Lower TF.
one can plan entry near 28-285 as Sugar stocks on breakout spree but market is in correction phase.
Please use proper R2R management.
DISCLAIMER: For education purpose only, do your own analysis or consult your advisor before taking position