SBIN, was consolidating since 2022 and now it has given a strong breakout and also retested the breakout levels and bounced back which shows a strength in the momentum...
trend looking good and sustainable....
Views are just for the education purpose only....
Slope of PC-A1 = PC-A2
And PC-B1 = PC2
This shows DEEPINDS respects Parallel Channel very well
With the Breakout (BO) of PC-A1 at 195, price rallied to 277, where it created Highest & Start point of PC-A2
The downtrend from there, Candles remained respected the PC-A2 and price dropped till 177
Now check out this lowest point of 177 was the last...
All the three Parallel Channels (PC) are one and the same!
PC-A = PC-B = PC-C
The strength of PC-C is crossing the highs of Apr-22 levels for the breakout
and strongly retraced the BO at 105 levels.
The huge buying levels at in Apr 22 at BO of PC-B and at BO of PC-C are confirming the strength in the BOs.
What I feel is, the overall market trend in Apr-22 had...
AETHER INDUSTRIES LTD : Breakout on 1-D and 1-W chart
Sort Term Target 1158 Keep SL 960 on Daily Closing Basis
Long Term : Fundamentally also looks good for long term, Potential to be double from current price.