Reason for Long
1. Head and Shoulder Formation (See chart)
2. High Volumes (See chart)
3. Good Fundamentals
4. RSI continously above 50 (See chart)
Target: 2000
Stop loss: RSI goes below 50
29 June 2020
Glaxo (CMP 1493)
Inverse Head and Shoulder Pattern. It took 92 trading days for the pattern formation.
Long term is 552 points up from 1525.
Breakout above 1525 is crucial.
T1= 1709, T2= 1893, T3= 2077; SL= 1341
Target Date= 30 Oct 2020
