Long
ROUNDING FORMATION BREAKOUT
On the Daily chart, the stock has broken out of a "circular formation" at 2850 level on a closing basis with increasing volume.
Stockist trending represents a strong uptrend forming a series of higher tops and higher bottoms on each time frame
This buying momentum is seen from the 20-day SMA (2775) which confirms the bullish sentiment
Daily & Weekly Strength Indicator RSI is in bullish pattern with positive crossover which supports rising strength
Above analysis indicates above 3100-3200 level. Time Period 4 weeks
Stockist trending represents a strong uptrend forming a series of higher tops and higher bottoms on each time frame
This buying momentum is seen from the 20-day SMA (2775) which confirms the bullish sentiment
Daily & Weekly Strength Indicator RSI is in bullish pattern with positive crossover which supports rising strength
Above analysis indicates above 3100-3200 level. Time Period 4 weeks
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