INDOCO:- Trendline breakout with good volume. good for short term. keep on eye
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
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Indoco Remedies Ltd falling rally may come to end in upcoming weeks. keep concentrate for breakout where upward or downward. Both targets are mentioned in above chart. Confirm breakout in day open closing above or below the trend line. Its good for swing traders.
- Broken out All-Time High (of 2015), pulled back, consolidated a bit, and now ready to go up.
- Price in an uptrend since July 2020.
- High volume deliveries this week. Up to 12.41 lac shares were delivered yesterday, whereas average deliveries are 1.23 lacs.
- Yesterday saw the highest delivery of shares in recent times.