As we can see monthly candle has breached the strong resistance zone/level with a good/more than average volume , if the monthly candle manages to close above 35.95 level, it will be considered as multi-year Breakout. One can go long with buy on dip strategy till 36 levels for the target of 51, 55 and more in 9-12 month time-frame or wait till the candle doesn't give closing above the 35.95 level.
THIS VIEW OF MINE IS PURELY BASED ON TECHNICAL CHART, BEWARE OF NEWS.
THIS VIEW OF MINE IS PURELY BASED ON TECHNICAL CHART, BEWARE OF NEWS.
Trade active:
1st target of 51.20 has reached on 26th may, forming a good support at 38, 40 and 43 levels, can think of buying in these area levels, (would suggest to go for buy on dip strategy on given support level) stock has a potential to show the ultimate target of 63.65 in coming days/weeks. *Trade is still active*
Trade closed: target reached:
Trade has shown our 3rd target of 63.65, would suggest to sell the 50% holding and hold rest with the stoploss below 63.65.
Comment:
Almost doubled since the chart has been shared and currently trading at around 83-84 level. would suggest to not to go for fresh buying at CMP, missed entry on retest level which happens to be 3rd target. if forms any buying opportunity will share chart soon.
