Stock after making new high in June 2021, after almost 3yrs (previous high in Oct 2018) had a mega bull run and made another new high in August 2021. From then, the stock has corrected by almost 35% and is consolidating, with subdued volume. It has formed descending triangle pattern on weekly chart, holding 140 levels as strong support by closing above 140 on weekly CB. Longs can be considered with SL below 126 on weekly CB, for the target of new high (above 198), in coming months ahead, once the stock consolidates and resumes its upward journey.
Kindly make your analysis before initiating any trades.
Kindly make your analysis before initiating any trades.