It has been observed that the price action breaks out above the 6 months trendline and confirmed the breakout by re-testing of trendline by forming a bullish candlestick. The breakout is also confirmed by the RSI Bullish Divergence. Therefore, price action is expected to go further up from here on. T1-17.5, SL 14
Comment:
Yes, the stop loss got hit in the recent fall in the market. But I still feel 13.25 can play a good support as the stock has potential to further move up due to its previous strong breakout above the trendline.
Comment:
Note: The price action is still bullish until it makes new lower low by going below 13.
