Now considering my rational, if you see after a big fall from 2015 where NPA issues were discussed the major reason. Stock is in primary accumulation phase which is clearly evident by rising volumes, so this means the stock is due for another rally, so i think it's an ideal opportunity to buy this stock. Plus after recapitalization rally just look at the volumes in the negative to sideways consolidation. So seller weren't strong in this phase which gives another positive rational to buy this stock.
I'm expecting the stock to break this TRIANGLE formation and minimum target I would expect from this would be 110. Keeping a stop loss of previous swing low which was around 57 levels so 54 seems a good level for stop loss. At this point we are getting a minimum 1:2 Risk reward.
Last I want to specify the Width, this help us identifying momentum, this stock historically has found momentum around 0.149 levels, this is also very important to identify that how soon will we achieve our targets.
So I hope you would find this analysis helpful for your decision making (Please always trade with a stop loss)
Note: Risk Only What You Can Afford to Lose