NipponLife India asset management stock is breaking out from a previous resistance zone.
It is trending in a channel with good momentum and ADX trend strength rising high.
Volumes are decent above simple moving average.
Stop loss should be neckline of breakout below entry candle low and entry above high of alert candle.
Bajaj Auto is one of the renowned names in 2 wheelers segment.
If we look at this chart which is weekly it is showing that it has been in a consolidating phase since last Oct 2017 which is more than 3 years of consolidation. Now it is trying to go out from the consolidation zone. It has tested its resistance already for 4-5 times.
Even in Monthly chart signs of...
It has been observed that the price action breaking above the nearest resistance of 5400 level. Once the price action closes above 5400 on daily chart then the price action may further excel and reach towards 5800-6000 levels.
Note a close above 5400 is required to confirm further excel in the price action.