Honeywell Automation India Limited
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Triangle pattern on HONAUT

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HONAUT formed a triangle patter on weekly chart. This pattern has been forming for the last two years. It appears breakout has happened on it today. Though the volume was relatively low compared to previous trading session. There was strong bullishness with Marubozu candle formation today. Multiple support and resistance were tested with recent runup in price that broke out of resistance. Entry can be held just above today's high with stop loss below previous trading session candle as shown on the chart.

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