Stock Gave a good volume breakout from triangle pattern , currently is retracing after the breakout, can be bought at CMP or if it touches the trendline, then it will bounce back.
If it crosses 200 with good volume then can see higher targets of 220+
first Target 195+
Return - Approx 15 to 20 Percent
TF within 1 month
Trade closed: target reached:
Stock Gave the target within 2 days only, gave high of 226 i.e approx 30 Cent rise. still at more than 20% return. Can book partial profits or keep trailing, as company has given promising result hence might give a good rally after short time. Keep trailing with SL of 190.
looking at bullish flag pattern being formed in the stock, currently consolidating. if it breaks the pattern on upside, then minimum 30 percent is expected in short time
the pattern will be considered not following if the stock closes below 193 on closing basis.