VigneshIyer

On verge of breakout

Long
NSE:SMSLIFE   SMS LIFESCIENCES
SMS life science has been doing quite well for some time now. After the earlier gapups formed back to back in Sept 2020 , the gaps were filled subsequently and it has been forming a type of penant. The numbers are going to be announced on 7th of june i.e tomorrow and caution should be maintained if the trade is executed. A good chance that the stock should breakout of the consolidation since april.

Disclaimer : This is strictly for educational purpose and any position should be taken only after self analysis.
Comment: Not the best of breakout with 2 red candles and looks like this one could retest b/o levels and then could see better volumes
Comment: Numbers have been really good. if it sustains through the this week, we could see all targets coming in next week itself
Trade closed manually: Reached 880. Short term targets done. One can hold this stock for higher levels with sl of 685

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