HSCL Bullish Breakout analysis 13 NovHSCL is a process industry. By looking at the chart data, it has given a confirmed breakout. After a nice bullish move, it has been consolidating for the past two months. It now again has given the breakout of the descending triangle pattern, which is a continuation pattern.
HSCL might be making a nice, bullish move.
Reason:
Price > EMA(13,50,200) seems continuation of the trend..
RSI > 50 crossing 60, means bullish trend.
Price > Vwap (just Near the VWAP to upside)
Descending triangle pattern BREAKOUT to upside
Volume is more than average(20) that shows heavy bulls intrest in buying side.
Verdict:
Highly Bullish
R:R :: 1:3
Plan of Action:
Buy: 259
Stoploss: 245
Target: 295
