Indian Hotels - Range ContractionStock making HHs HLs after giving sharp up trending move
Now facing a strong resistance between 716-720
Range contraction in progress
If stock manages to breaks with good volumes and candle it will surely try to go to new and uncharted territories
View negates below 690
Will wait for a breakout and pullback to happen in 717-723 area
Indhotelpriceaction
Indian Hotels - Breaking out!!!Indian Hotels breaking out after 24 weeks consolidation.
Need to watch how the breakout above 227 sustains in the near term.
Price zone between 236 and 227 is important. This channel can act as short term consolidation area. Movement above 236 can add further momentum.
Short term target of 288.
Long term (12 months) probable target: 330.
Note: Not an advise to buy or sell, simply a personal analysis.