>Breakout from a channel and retest of 20EMA with 50% fib retracement forming a flag pattern
>A buy trade can be initiated between 26.5 to 28 for at least 20% potential upside in short term with a stoploss of 24.5
>Favorable risk reward ratio of almost 5
Let's have a look at the technical weekly chart of Alok Industries, you can see that Alok Industries has given a range breakout above 26.50 with strong volume. Alok Industries stock was trading in the range of 19-26 for almost a year and now given break out. Today also the stock has hit a low of 25.25 and with strong price action made a comeback...
Buy Alok Industries at CMP
Target 1: 7.5
Target 2: 15
Strict SL: 2.7
PS: Buy this at your own risk. This deal is attractive as the downside is small.
I request all the experts, traders, gamblers, operators, investors of this co. CEO, board of directors, auditors and whoever reading this to share your feedback and thoughts on buying Alok textiles