Briefing about my multi-confirmation setup on VAKRANGEE :
1.Wedge pattern breakout : It has broken out of downward pointing wedge pattern and did a last kiss on the upper trend line. 2.Volume spurt : breakout is supported by good volume ,again a sign of building interest in stock. 3.Golden Crossover : 50 DMA crossing over 200 DMA from below , a good bullish signal. 4.RSI : taking support on previous resistance turned support and indicating up move. 5.Fibo 0.5 level : Fibo 50% is crossed and stock trying to sustain it.
Personal view : Bullish Timeframe used : Daily Target : T1=55-56 , T2= 70-81
Disclaimer: These are just my personal observations and not trading or investment tips , please do your own research or consult an investment advisor before doing any investment or trading