manuvsingh

GEOJIT Triangle Pattern Breakout with Volume

Long
NSE:GEOJITFSL   GEOJIT FINANCIAL S
GEOJIT : Fresh Triangle Pattern Breakout above 59 on Daily chart .
Price Bounce back from 50 SMA .

Huge Volume show Accumulation.
RSI showing positive divergence.

Looks good for up to 40% upside in short to mid term.

CMP : 60
Short Term view (1-3 months)
Target : 71

Mid Term view (3-6 months)
Target : 88

Almost 1:3 risk reward setup

SL : 52

On Weekly Charts Price has moved above 200 Weeks SMA
Indicates fresh Longs can be created for higher targets

Chart Only for Education Purpose
Trade active: Geojit has achieved first Target of 71 today.
Had BO on 9th March, then fell to test its 200 Day SMA and resumed uptrend.

Now set for higher targets
Trade active: Mid Term Target: 88
CMP: 96
Target achieved
Return: 60% from recommended price 60

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