INDIGO
is forming good Base and Crossing 1395 will be Good Buy for Target of 1600 with SL1300. My Analysis point of view is for Swing Trade based on Delivery stock.
Why Bases Form
A base visually represents a great stock’s need to take a break. After a nice run-up in price, preferably 30% or more, such a stock will decline – in most cases, mildly. This is often the beginning of a new base. At some point, demand among mutual funds, banks, hedge funds, pension plans, and the like suddenly spikes. So, does the stock’s price. A breakout past a base’s proper buy point begins.
Good Read Related to Understanding Bases/Pattern and how to Trade them
blog.marketsmithindi...k-charts-to-win-big/
Trade closed: target reached:
It just hits 1600.