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The analysis is done on weekly TF hence price may take few weeks to few months in order to reach the targets.
Trade setup is explained in image itself.
The above analysis is purely for educational purpose. Traders must do their own study & follow risk management before entering into any trade
Checkout my other ideas to understand how one can earn from stock...
Buy Reliance when Daily Closes above 2480
Stop Loss Closing below 2350 on Daily Closing Basis
and low break with 5% Buffer
TGT Open and Book P&L when it daily closes below 20 SMA
and break low with 5% buffer
Price started movement from monthly demand zone and now near monthly supply zone might be this time after some consolidation price give breakout over the supply zone.
Rest upper supply zones are already tested so chances are high some day we can see price on life time high.
Wipro is trying to break its all-time high after 20 years
Wipro made high 388 on Feb 2000 now after 20 years stock is come to touch its all-time high if it breaks big move expected
Stock is making higher high and higher low & volume also increasing
A very positive opening for the stock of Laurus labs. It has rallied past the prior high (₹1,155.9) and registered a fresh all-time high today. The stock is riding on a significant upside momentum and the fresh breakout will only make the case stronger for the bulls. So, declines can be used as an opportunity to go long in the scrip.
Bayer Cropscience hit fresh lifetime high last week and is trading above a strong support band. After a minor correction, the stock bounced from ₹5,900-mark. It is likely to move up further and hit higher highs.
Biocon @ Breakout level. see its trading at a descending channel. once its break outs it will reach its life time high however there will be a psychological level at 400 which it has to cross before it climbs higher