I had shared fundamentals of this scrip in my earlier post. Now here in the above chart are the technical.
You can call it a breakout of previous high (on daily time frame), rounding bottom breakout, W pattern breakout. There is still two factors to watch out for, channel breakout (daily closing above 515) + A little more strength on RSI. On weekly chart, MACD crossover has been established.
Technically the chart is showing strength, channel breakout (close above 515) will set this scrip for insane up moves. If tomorrow it opens above 515 and sustains for 1 hour, possible insane moves can start from tomorrow itself.
Target 614, 625, 653.
Disclaimer : For educational purpose.
You can call it a breakout of previous high (on daily time frame), rounding bottom breakout, W pattern breakout. There is still two factors to watch out for, channel breakout (daily closing above 515) + A little more strength on RSI. On weekly chart, MACD crossover has been established.
Technically the chart is showing strength, channel breakout (close above 515) will set this scrip for insane up moves. If tomorrow it opens above 515 and sustains for 1 hour, possible insane moves can start from tomorrow itself.
Target 614, 625, 653.
Disclaimer : For educational purpose.
Comment:
This is an update. I like these kind of charts where there is intriguing setups play out. On a weekly chart, you can observe there is two doji formation as of now. This tells there is a buyer who is waiting for seller to appear, and vice versa. As of now both are looking for dual to play out. For buyer it is important to close above 474.65 this week and seller will try to do the opposite action. Today is friday, last day of the week and the play is going on... I think either of the two will appear after 2:00 or 2:30 pm. Let's see what happens. Strong buyer at 450 and strong seller at 515. Interesting 65 point play-out.