VigneshIyer

Breaking out of the squeeze

Long
NSE:ZOTA   ZOTA HEALTH CARE LTD
Having been keeping tabs on this for sometime. Today last 15 mins candle saw some action with volumes and price rise in good sync. If it continues we could see breakout from the triangle. Post b/0 188 is the only resistance for the stock. SL below this weeks candle.

Disclaimer : I am not a sebi registered analyst. This chart is purely for sharing my techniques of identifying certain patters. Do your own research before taking position in the market.
Trade active: The position paid of well as the b/o is confirmed with good volume. two possibilities from hereon as further volume could push the stock further with major resistance at 197 or the stock could retest breakout level before moving further up. SL 169 end of week closing basis
Comment: Retested the b/0 level. but couldnt sustain and broke inside the triangle again. if friday the closing below 169 then short term trade should be exited and only long term trade can be carried with sl of 147 on weekly closing basis
Trade closed manually: Short term trade closed. doubled within 2 months.
Will post long term charts later on

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