Descending Triangle Pattern - Breakout !!
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The Stock has formed a descending triangle Pattern on charts and there is a clear breakout. The stock from a technical standpoint is trading close to its 50DMA and comfortably placed above its 200DMA, around 17% above 200DMA. The RSI is at perfect levels to take long trade.
The Company is fundamentally sound. The company is debt free and has a strong balance sheet enabling it to report stable earnings growth. There has been a continuous increase in stake by FPI and mutual Funds.
Don't miss at these levels. Refer chart for Targets and SL.
Feel free to share your feedback and queries.
The Stock has formed a descending triangle Pattern on charts and there is a clear breakout. The stock from a technical standpoint is trading close to its 50DMA and comfortably placed above its 200DMA, around 17% above 200DMA. The RSI is at perfect levels to take long trade.
The Company is fundamentally sound. The company is debt free and has a strong balance sheet enabling it to report stable earnings growth. There has been a continuous increase in stake by FPI and mutual Funds.
Don't miss at these levels. Refer chart for Targets and SL.
Feel free to share your feedback and queries.
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