Descending Triangle Pattern in ICICIPRULI - Time to go Long?

Jan 17

SYMBOL : ICICI PRU LIFE

Currently trading at long term support zone of 500-510.

A descending triangle pattern in making.

Breakout of this pattern will lead to 545-562 & 580.

Long position can be taken at CMP 514-515 with SL of 500.

Jan 18

Trade closed manually

Results came unexpected. I didn't aware of the fact that results were coming yesterday.

If you're a f&o trader, 500 SL has been hit and trade is closed however If you're holding in cash and your view is long term then you must hold it as it is a good company and it will recover back soon.

Feb 7

Trade closed manually

CMP 532

Those who got trapped because of results news flow & gap down must have got good exit in profits today.

Analysis was on point but nobody can control news flow. :)