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NFL- Cup and handle breakout

Long
NSE:NFL   NATIONAL FERTI.LTD
* NFL is still moving in a rectangle range since 2007.
* Now it is showing strength and has given Cup and Handle breakout.
* Also it is at the verge of breaking its long parallel trend.
* Its immediate resistance is at 89.
* It the resistance of 89 is broken in up side it may give the target of almost 130 at per Cup and handle breakout.
* As per fundamental stock does not look sound as ROE is in negative, Reserve are constant but debt are increasing. ROCE is also not good.
* But Company is expected to give a good quarter result.
* Promotor holding is 75 % and DII holding is 13 %.

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