Chart Pattern : “Bullish Price Channel”
Main Trend Line: At 8 Dec 2017, 18 Dec 2017, reaction lows formed the beginning of the main .
Subsequent lows in 03 January 2018, and 10 January 2018 confirmed the main .
Channel Line: Once the main was in place, the channel line beginning from the 11 Dec 2017 high was drawn.
A visual assessment reveals that these look parallel. More precise analysts may want to test the slope of each line, but a visual inspection is usually enough to ensure the “essence” of the pattern.
Bullish Price Channel: Subsequent touches along the main offered good buying opportunities in mid- 18 Dec 2017, late May and mid-August.
- The stock did not reach channel line resistance until 22 Dec 2017 and 26 Dec 2017 (red arrow) and this marked a significant reaction high.
- If channel line resistance break with an acceleration above marked (blue arrow). Then Some analysts might consider the stock overextended after this move
Strong Fundamentals :
(Fundamental Medium Term Target 800)
(Fundamental Long Term Target 1000)
1.Total (Mkt. Cap) : 2170cr
2.Debt : 0.59cr
3. Stock PE : 16.00
Today close near 5.96% Up :-)