INDOCO:- Trendline breakout with good volume. good for short term. keep on eye
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Stock : indoco remedies
Pattern : Head and Shoulder
Postion : Swing Trade
Indoco remedies forming a head and shoulder pattern and breaks a good volume and good for swing position
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.
Chart Structure:
- 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.
Volume:
- 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.
Relative...
INDOCO - Have broken range with a delivery volume. Increasing in volume indicating up-move a head. Closing above 318 will conform up trend, We expect short term target of 345 and 385 in mid term.
