*Stock has given a bullish Inverted H & S Pattern breakout on weekly chart & closing above neckline .
*02 years long term trend line breakout already happened.
*If we look at the volume part, significant volume activity is witnessed at the time of breakout.
*Price has also trading all the important moving averages.
*Considering all technical evidences we may see...
*The 2395.00 area is a potential RESISTANCE breakout now and act as a support for now and at the same time this kind of pattern breakout (RECTANGLE) in price is sustainable and high probability. Risk is too low now.
*This stock breakout the resistance level with high volume.
*Price trading above all the moving averages.
*Present trend and sector in bullish trend.
*BEL weekly chart trading above important levels 122.00 and breakout in #inverted H & S chart pattern with high volume.
*As per the Chart pattern the first target is 160.00 and 220.00 with the support level of 99.00 closing basis.
* In hourly chart made a inverted H & S pattern and already breakout in hourly chart. So go long with target of 172.00/180.00/185.00 with stop loss of 155.00 .
* Always trail stoploss when price move in your direction.
* Lyka Labs Limited is engaged in the business of pharmaceutical products and pharma-related activities, including research.
*Market Cap₹ 66.8 Cr.
*27 % share pledge with loss making company.
*But Technically looks good .
*Rounding bottom with Inverted H & S pattern break out.
* Pullback completed in Nifty Energy Index.
*Inverted H & S pattern Breakout.
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