One of the stock which can perform best with good % of retruns for long term investors...
CMP: 394.55
Technical Reasons (monthly):
1. It has made a symmetrical triangle breakout in upward direction.
2. Bollinger Bands are expanding and candles are riding the upper band though we can conclude trend is strong.
3. RSI is also in a neutral zone...
Technically on monthly charts it is very strong.. Should invest for higher returns...
Points to be carefull:
1. It is highly overbought in daily and weekly charts.
2. On daily and weekly charts RSI is above 85 and 75 respectively.
Conclusion:
Very much chances are price can be seen upto 380/370/365 regions which will be an opportunity for entering for longer term...
Targets are 450/490/550+ Stop Loss is 345
Note: Do your own study before making any position.
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as expected prices are decreasing due to highly over bought conditions in weekly and daily regions... TGT1 : 380 reached more to decrease... this decrease in price will give good opportunity for entring long term :)