Looks Good! for NSE:NIACL by hardeepssethi — TradingView India

By Taaza Facts

Published on:

Looks Good! for NSE:NIACL by hardeepssethi — TradingView India


Pattern:Symmetrical Continuation Triangle (Bullish)

Time Frame: Daily Chart

Script:

NIACL

(New India Assurance Company Ltd)

The recent price movement indicates a breakout from a consolidation phase, signaling the potential continuation of the previous uptrend.

This pattern aligns with the characteristics of a Symmetrical Continuation Triangle (Bullish), where two trendlines converge due to the price making lower highs and higher lows.

During this period, trading volume typically decreases as the price oscillates within a narrowing range, reflecting uncertainty.

However, before the triangle’s apex is reached, a breakout above the upper trendline occurs, accompanied by a significant increase in volume.

This breakout serves as a confirmation of the continuation of the prior uptrend.

PLEASE NOTE THAT:

  • This chart analysis is only for reference purpose.
  • This is not buying or selling recommendations.
  • I am not SEBI registered.
  • Please consult your financial advisor before taking any trade


Taaza Facts

I am a multifaceted content creator with expertise in blogging, Finance, and Cryptocurrency reviews. My creative journey involves weaving captivating stories in blogs, designing aesthetically pleasing and functional websites, and dissecting the nuances of cinema. We are dedicated to sharing our passion and insights with a global audience.

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