4 to 8 weeks Breakout + Shakeout

After a 122% Move in Last 10 weeks and a 259% move from its 52 Week low. Ester went in to a 4 Week Consolidation which is generally a good sign, Post Breaking out of this Base on 16th September it reversed and came down for 2 Weeks and then came the breakout again on 5th October which was stronger than the first one as the weaker hands were out after the first failed BO. Technically Entry on the first breakout may have resulted in being stopped out but as they say you should never stop watching a stock immediately after being stopped out of it once.


Now again Consolidating between 120 to 126, what is your view....? Thanks
@sajid11, Looking Good, Also 10 WMA is Close to CMP which makes up for a good risk reward ratio. Always Use a Pre decided Stop Loss
sajid11 mohit_nischal
@mohit_nischal, Thanks , for me i have made 122 as stop loss, but comparing to other peers they have just doubled there margins and reduced for long-term, its fair value when compared to Essel Propack and others comes to 175.
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