Sunpharma - Breakout Descending Triangle (Big Buy)

It is been observed that the price action breaks out from a descending triangle on hourly chart, indicating further bullishness and positiveness ahead. It is been consolidating for a while and this break out shall boost the movement towards the next resistance level at around 780 levels. Consider it a good buying opportunity.

Target: 782
Stoploss:745

Trade geschlossen: Stop wurde erreicht:

That marked breakout on above chart didn't close above the trendline as marked below, which indicated selling pressure on higher levels.

Learning: Importance and significance of closing on Daily chart. Breakout on hourly chart should also be confirmed on daily chart.