rajbrs
Long

Mircele small scrip ready for upmove _Triangle Breakout

NSE:MIRCELECTR   MIRC ELECTRONICS
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Mircele has given a breakout on weekly chart out of triangle.Ready for upmove with 1st target of 30-31.
It is intresting watch out as if it give close around same levl on 31st july a monthly MACd buy will be triggerred.
On monthly chart there is a trendline form levels of 80 in year 2000 will be broken once it start trading abv 20.
52wk high 22.55 will be first resistance & then it can easily go to above tgt .I expect much higher tgts from 1 year prespective.
Comment: Break of lower trendline should be treated as stoploss.
Comment: IF current week low broken exit.
Comment: Today stock has hit SAR on monthly chart.Good Days Ahead.
Comment: Target achieved would not like to sell. Next tgt 38-40.But it may take some time. Would like to watch september qtr result if it comes as per mkt expectation than much higher lvls can be seen.For higher tgt please see the cup&handle pattern breakout on monthly chart. Hold views of consolidation at current lvls for some time.
Comment: Sept quarter results are excellent.Tgt of 40 also achieved.Now 58-60 could be the target as per flag pattern. In last few days very high delivery base buying has been done by those who already has idea about sept quarter results so much higher tgt are not impossible. The market seems very much interested in the scrip reflected by volumes.
Comment: Again tgt achieved.Now new tgt all time high 80. Rule for stock mkt "RIDE YOUR GAINERS".
Target achieved would not like to sell. Next tgt 38-40.But it may take some time. Would like to watch september qtr result if it comes as per mkt expectation than much higher lvls can be seen.For higher tgt please see the cup&handle pattern breakout on monthly chart. Hold views of consolidation at current lvls for some time.
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