Note: This is for educational purpose only.
There seems to be a ascending triangle bullish breakout with high volume. Previous support has turned resistance. Moreover, RSI above 65 indicates bullish momentum.
Zeta scanner Weekly Graph suggests Chlamandalam growth story is over.Just a big red candle and it will start sliding down. Also, just see the perfect automatic buy sell indicator by Zeta Scanner. Enjoy the trade !!
Looking good buy at CMP (or buy on Dips) for Short term buy (Up to Friday) - Targets 210, 215, 220 with SL at 195
For details of Fib retracement levels, refer the linked idea.
If market & BN doesn't come crashing, Go long on August Futures or OTM options.
For Intraday, It may be a risky trade - trade in the direction of market.
1. Bullish Flag Breakout
Every Price Action Pattern after breakout provides some Target Range and according to Triangle:
Target Price: 235 and 260
View Negated Below: 201 in closing Basis
#Disclaimer: I'm not a SEBI Registered Research Analyst, These are my views, please consult your Investment Advisor before buying and selling any...
NOTE: This is for educational purpose only.
My previous view of CholaFin was wrong . Fresh view is a proper bullish breakout with hike in buying volume. When there is a breakout with high volume, usually it is not a false breakout. This seems to break 185 levels as well.
DISCLAIMER: This is one of my personal view and not a recommendation.
If CHOLAFIN moves above 165, (which it was trying to break since one month) 166 would be a good entry for intraday trading. Also set 176 for a safe exit.