Rallis - 1. After reaching the pink channel top during the year 2010, it started moving sideways with very little inclination only to touch the other side of the parallel channel.
2. While going sideways,it formed the blue parallel channel. Whenever it touched the blue parallel channel bottom, it climbed higher to its top. Now it touched the bottom of the pink parallel channel + blue parallel channel+ support line of 254+ fib 0.618 retracement.
3. All the above led the strong foundation for its bullish rally and already gave 50% in 3 months.
4. Trade setup:
a. After reaching the blue channel top, it it comes to 254, its good to enter as a aggressive entry.
b. As a conservative entry, entry should be done only after the successful strong breakout above the blue channel and 362 resistance and it should sustain above it for 3 months.
c. Once the above is done, target will be minimum 5x in very long term.
Note: This is for educational purpose and not a stock recommendation.
