nerdywasabi

RKFORGE Rectangle Consolidation Breakout

Long
NSE:RKFORGE   RAMKRISHNA FORGINS
#RKFORGE CMP 618

Stop Loss below 560
Multiple resistances broken in the range of 610 to 615
Breaking out of 4 month long rectangle consolidation/formation
Nice volume spurt
Positive breakout

May fire for an upside of 22% considering the rectangle mouth length

Disclaimer -

- The view expressed here are my personal views. I am publishing this for my own records and what I see on charts.
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TIA!
Trade active: Moving as per expectations. Post breakout, it did the retest and respecting 20 day EMA. I feel there is still some up-moves to come in this scrip
Trade active: Good consolidation happening. An upmove may come post 670 levels