The stock looks to have formed a base on the weekly charts and is slowing moving upwards and has given a breakout above the levels 7500. One can go long on CMP for targets of 8350-8900-9700 on positional basis with a stop loss of 6900 on weekly closing basis below which it turns weak. The stock moves slow so its a positional call for 2-3 months
NOTE: NOT SEBI REGISTERED. THIS IS NOT AN INVESTMENT STRATEGY AND ONE SHOULD DO RESEARCH OR CONSULT WITH THEIR FINANCIAL ADVISOR BEFORE TAKING ANY INVESTMENT DECISIONS.THIS IS ONLY FOR EDUCATIONAL AND LEARNING PURPOSES.
NOTE: NOT SEBI REGISTERED. THIS IS NOT AN INVESTMENT STRATEGY AND ONE SHOULD DO RESEARCH OR CONSULT WITH THEIR FINANCIAL ADVISOR BEFORE TAKING ANY INVESTMENT DECISIONS.THIS IS ONLY FOR EDUCATIONAL AND LEARNING PURPOSES.
Comment:
IF CLOSES BELOW 6900 THIS WEEK THE BREAKOUT WILL FAIL
Comment:
THE BREAKOUT SEEMS TO HAVE FAILED AND IF IT CLOSES BELOW 6900 THIS WEEK ONE SHOULD EXIT AND CAN PLAN TO RE-ENTER IF IT CLOSES ABOVE 7590 ON A WEEKLY BASIS