A rising channel breakout is visible in the stock.
A month ago , the price hit the lower trend line at 938, and then bounced back , with gradual increase in volume and atr over the last month , towards the upper trend line.
On 25th july, the breakout occured with sharp surge in volume.
Post breakout, resistance has turned into support (level 1224)
Thus, for a short term trade, tgt 1338.3, sl 1226
A month ago , the price hit the lower trend line at 938, and then bounced back , with gradual increase in volume and atr over the last month , towards the upper trend line.
On 25th july, the breakout occured with sharp surge in volume.
Post breakout, resistance has turned into support (level 1224)
Thus, for a short term trade, tgt 1338.3, sl 1226
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.