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Trade Setup – NSE NIFTY, TECHM & BIRLACORPN

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Free nse nifty chart calls

Free nse nifty chart calls

Timeframe: Hourly

NSE TECHM – Weak formation Breakdown

NSE TECHM has broken down a key support level. The ATR of the price is increasing rapidly. The price is moving towards the 50 EMA (Exponential Moving average). The price couldn’t create a new high after top formation.

Bear traders can benefit from the weakness of the security. If the price sustains below 1103, traders can trade for the following targets: 1086 – 1072 – 1058+.

Traders can take stop-loss as day high.

NSE BIRLACORPN – Breakout Setup

NSE BIRLACORPN Has broken out an 11-week-old parallel channel with a large candle. The price is marching towards 50 EMA, and ATR is rising on the daily timeframe chart.

A successful breakout of the channel can lead to a reversal, and traders shouldn’t miss the opportunity of the setup. If the price sustains above 875, traders can buy for the following targets: 886 – 899 – 916+.

Traders can take invalidation as yesterday’s low.

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