Yes2Profits

VISAKAIND - Classic Rectangular Pattern Bullish Breakout

Long
NSE:VISAKAIND   VISAKA IND
The stock has broken out of the pattern after a consolidation phase and supported by very high volumes.
It is expected to follow on the trend and can be bought at current levels for targets of 838 and 900 in near future.

The stop loss can be maintained at 775 level, which was the resistance level before the breakout.

Supporting technicals:
RSI: 66 ( Bullish but not overbought)
ADX: 45.5 (Suggesting strong trend)

P.S: This idea is for educational purposes only and should not be construed as an investment advice.
Trade closed: target reached: Target 1 reached on 23rd July