We can observe that the price has successfully closed above the previous 52 Week's high price which was a major supply zone and the price has reversed from that zone couple of times. Increased volume gives confirmation for zone breakout. The stock has the capacity to make nearly50-60% up move in the coming days.
Trade set-up 1) Ideal entry price would be 220-225. 2) Strict stop loss at 140. 3) Possible targets are 266,343,400. 4) book profits as per your risk-reward.
Note:- This is not a recommendation, make your own analysis.
seems legit till the first target as i've derieved the same but how did you get derieve targets 2 & 3 as it's at an all time high
SWING2TRADER
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@sandeshprabhu85, 2nd target is based on Trend based Fib extension, which made-up to 1.618 of previous existing trend. Last one is that of C&H Pattern target. From my past observation, I have seen price respecting fib levels quite well.
sandeshprabhu85
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@SWING2TRADER, okay, i've also got a kind of similar chart after using fib extension lemme share it to you in dm