Range Bound Breakout expected at 2184NSE:VINATIORGA
Structure : Range bound
What is range bound market?
Whenever a stock or index is trading between support and resistance it is called Range bound.
There is no strong move in either direction.
Prices tend to ping back and forth near old highs and then fall to prior lows.
The range-bound movement usually occurs at the end of a large move as the bulls and the bears fight over the direction of the next move.
Generally breakout occur at the previous direction of the underlying.
Range Bound Level : 1770 to 2130
Range bound levels are clearly drawn in the chart as support and Resistance.
Break out level : 2184
CMP : 2170
Advance Buy Order @ >= 2185
Reason : Range Breakout at 2185
Long Term Target: 2540 - 2560 + + +
Short Term Target : 2300 - 2400 - 2500 - 2540 + + +
Note: BUY only > = 2185. CMP 2170
