The stock is about to breakout of the pattern and move up towards reaching the previous 52W high and if the trend continues it can cross 1400 levels.
The trade can be initiated if the stock crosses and sustains 1070.
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This is follow-up on DCM Shriram. Can check link to related ideas.
Target 1 achieved. More than 32%. Target 2 is ON.
Chart is self explanatory. Entry, Targets and Trailing Stop Loss are mentioned on the chart.
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A good weekly breakout with volume has put stock in a buy zone. Unless 500 breaks it can give a rally till 1100.
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* This stock breakout after a long consolidation ( 05 years ) with extremely high volume and closed above resistance line in weekly chart . That gives more confidence to bullish .
Disclaimer - i am holding
The scrip has given a breakout from the trendline and neckline of IHNS pattern and that too with heavy volume.
Now it is facing resistance around 429 levels, once taken out, then it has potential to move towards 482 and above that towards 538.
For such simple and highly accurate trade setups see my other charts.
Stock has completed the inverse head and shoulder pattern formation on a weekly chart and is ready to give a breakout if it breaches the current market price. Targets achievable from here will be 660, with a stop-loss of 420.