Sunteck has made its top during August 2018 and tried to give a breakout in 2019 but it failed and started to consolidate but during the first wave of covid it fell along with the market. Again following the market it started rising to its previous resistance in oct 2021 and this time also, it failed to break above but this week, it has successfully broken out the four year old resistance in a single day. This shows the strength of the upmove which is supported by good volume. This can be a investment type of trade with a target of 900 with a SL of 480 as well as swing trade with a target of 630 and SL 507.
Trade closed: stop reached