Last week Idea has given a breakout on its weekly chart. From last 2 years the stock was trading in range on its weekly chart, which can be seen by pink lines. Last week, however, the stock has given breakout of its important resistance @14. This week the stock has retested its previous resistance @ 14 and given breakout of its weekly range by high volume. This confirms the last weeks breakout and now this stock is ready for its up move. On medium to long term, the stock has entered in a bullish territory. With a deep SL one can enter in the stock with small amounts and add as stock hits new highs.
Target - 20, 30, 40 W. SL - 12 W View - Medium to Long term.