This is valid breakout. As per recommendation by John Magee, we should wait for ~3% up side move to enter into trade. I think, ~420 INR would be confirmed long term target for INTELLECT DESIGN. Nice chart @Soulblighter . thumbs up.
Soulblighter
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@VikramDivekar, Thats righ. anyway when i trade a breakout, i usually look for any traps/failure. thats whats more prevailing in Indian markets