It is a flag breakout on the monthly chart and targets for that is 360-70 = 290+ highest price which is 360 so 650 approx . Very soon it will be compared to Maruti and m&m and everyone will start saying it is cheaply available 😁
abhinavjain97
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@solacenator i did not get the 1st part. please explain and for the other there are a lot of positive developments going on in the company and it has stated that it will go debt free in 3 years if i am right. so no doubt fundamentals will improve in long term which will be reflected in price in the near future.
solacenator
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@abhinavjain97, I meant the measured move target of flag and pole . First target will be the size of the flag on the upside which is approx 450and ultimately it will be the size of the pole on the upside which is 650 . Same pattern is being formed in reliance , Voltas , tcs ,infoedge and in nifty too to which ultimate target is 25000 provided the pattern doesn't fail .
solacenator
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@abhinavjain97, it will be visible on weekly and monthly charts
abhinavjain97
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ohk.. my analysis is for a small swing trade. a range breakout trade
abhinavjain97
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thanks for additional information
ayushikhemka
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till when can this target be achieved?
abhinavjain97
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@ayushikhemka it's a 7 month consolidation. Think of it as a pressure cooker when the pressure is released it's fast and furious. Pardon me for the lame example i could not think of a different one😂. What i mean is the target may reach soon.