After years the stock has finally got thru via the courts to import petcoke as a raw material.
This will lead to peak utilization of the Vizag facility.
The stock has broken out of the downward trendline, also broken out of the AVWAP of the entire downmove.
Long above 209.
The stoploss here would be deep so ideally if the stock dips before the breakout to say 190/195 is where i'll first try to catch it with a SL below 184 (The AVWAP)
If i can catch the dip then i'll double up above 209 which is the medium term breakout.
This will lead to peak utilization of the Vizag facility.
The stock has broken out of the downward trendline, also broken out of the AVWAP of the entire downmove.
Long above 209.
The stoploss here would be deep so ideally if the stock dips before the breakout to say 190/195 is where i'll first try to catch it with a SL below 184 (The AVWAP)
If i can catch the dip then i'll double up above 209 which is the medium term breakout.