Radico Khaitan - Long Idea

After reaching the highs of 495 in May 2018 the stock was under pressure for around 2 months and the uptrend again started from July when it bounced from 320. Post that Radico Khaitan is smartly following the trend line and marching on to reclaim its previous high of 499 which is also a strong resistance which it tried to break twice in 3 months.

Currently we see a formation of triangle pattern which could be played on the levels mentioned in the chart.

Near term - Expected to test 500 level.
Long term - Triangle pattern breakout above 500 likely to lead the next run-up for this gem towards 650 levels with 500 becoming a strong support.


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