Not the prettiest of pennants I would say. In weekly charts the stocks looks in consolidation for sometime respecting 640 levels on weekly closing basis. Fresh impulse seen above 708-710 in charts but would need volume for the same. The length of the pole is 250 point and hence target looks roughly at levels of 1000 ( 750+250).
RSI for the highlighed frame of few months dint exceed 60 and now post break out has taken support at RSI 60 which indicates strong support and value buying at lower level. Any sort of surge in volume could take the strong further up.
Disclaimer: This is just for educational purpose and not a recommendation
RSI for the highlighed frame of few months dint exceed 60 and now post break out has taken support at RSI 60 which indicates strong support and value buying at lower level. Any sort of surge in volume could take the strong further up.
Disclaimer: This is just for educational purpose and not a recommendation
Comment:
A decent price action movement here. Has to close above 750 this week for b/0 confirmation. Sl can be 699 weekly closing for positional
Trade active:
Target of 996-1000 reached. Trail your own sl here now. Technical aspect accomplished