Historical resistance area breakout?

Entry on a weekly close above 115 and RSI above 50
Historically 115 acted as resistance. In the recent past when it got broken, it acted as support too.


As of now a zone between 113 -118 is acting as resistance from downwards and as support from upwards.
This time the upper end might as resistance. So be cautious for short term. If found entry, raise the stop loss below 113 for short term.

This stock looks good for long term investment too. For short term target is 135.

Stop loss/target levels for long term are marked on chart.


Note : I'm not a SEBI registered analyst. The information provided is not a trading advise. Just for educational purposes.
Do your due diligence, before entering the trade.

Trade active:

Last week close came above 115

Comment:

For short term traders, if gone by the given levels and prices. Their stop loss is hit.

For long term traders, the trade is still active.

Trade closed: stop reached:

There were some allegations of corruption and mismanagement against CEO. He resigned.