Update Till Date - The Stock has given an astonishing return in the past few months and has been consolidating in the price range of 17047-18744 for the last couple of weeks. We have seen a clear reduction in volumes as the stock was consolidating and the price was moving lower while we have seen a clear expansion in volumes as the stock has tried to move higher. Today (i.e., 18.10.2021), the stock has given a breakout of the consolidation zone with a good amount of volumes but the stock lagged any expansion in the price range on the daily time frame.
What to expect - Some more confirmation is needed to categorize the breakout as a successful one. For this, an expansion in the price range with a good amount of volume will set the stage for another bull run in the stock and one may expect another 1000-1200 points rally in the stock.
One may initiate a long position in the stock once the stock takes out today's (i.e., 18.10.2021) day high of 19091, below will be the targets for a swing trade
T1 - 19500
T2 - 19950
SL - 18560
Do consider following the account if you find the content delivering value to you :)
What to expect - Some more confirmation is needed to categorize the breakout as a successful one. For this, an expansion in the price range with a good amount of volume will set the stage for another bull run in the stock and one may expect another 1000-1200 points rally in the stock.
One may initiate a long position in the stock once the stock takes out today's (i.e., 18.10.2021) day high of 19091, below will be the targets for a swing trade
T1 - 19500
T2 - 19950
SL - 18560
Do consider following the account if you find the content delivering value to you :)