ParyataK

LEMONTREE consolidation; Asc Triangle & Parallel Channel

Long
NSE:LEMONTREE   LEMON TREE HOTELS
LEMON Tree started consolidation move, trapped in Ascending Triangle pattern since late 2020. This consolidation broke out in Late September. Coincidentally I also found out that the stock is also following a Parallel Channel Consolidation, as visible from chart. The stock is now consolidating near upper band of this Channel. A probable breakout from this point, supported with volumes may lead this stock to scale new highs after the fall of March 2020. Stay with this trade for a target of above 60.

** I am not SEBI Registered. Kindly consult your advisor before taking trade. **