This is the analysis of CIGNITITEC in Weekly Time Frame. Watch carefully. The chart explains itself.
The stock managed to break the long term resistance with increasing volume. It can retest the breakout level. If it will sustain above the breakout level, it is good for the stock. Generally Multiyear Breakout is a bullish signal for stocks.
There are some...
> The Resistance Zone between 660-680 will become Weak as it hit so many times.
> Back to back good volume.
> Entry Above 685 (only when price holds for 1 hour above 685 level)
> 1st TGT is 750,Risky traders can keep upto 820.
>Sl if price closes below 575
We need to hold this trade until S/l or TGT hit
*Always Enter With good confirmation & Maintain proper...
