Very Interesting. Sort of (heterodox) Elliot Wave (sic). Just plot in in Daily chart. What you see: 4 triangles - in the order of smaller highest medium smaller height (noted in the green flags). Lets call it our Elliot Waves 12345-ABC. (The green flags are motive peaks and reds are corrective trough. After that there is a rounding bottom - shown as blue...
Cup & Handle formation is ongoing. Can be a potential breakout candidate. Volume is also picked up. SL: 160.
Not yet break-out happens. But keep a note of this stock once it breaks above the consolidation zone. A 7 months rounding bottom formation. followed by a few days of consolidation. Two possibilities: 1. Either will give a breakout. 2. Retrace -> create a Cup-and-Handle . Keep an watch.
W pattern breakout with high volume. Low of the day does not break the 5 EMA.
There is no guarantee in stock market and Nothing over week Always Invest or trade according to your loss bearing capacity STOCK TO STUDY (EDUCATIONAL PURPOSE ONLY) REDINGTON INDIA LTD. with target of RS 165 CMP IS RS 158.15 STOP LOSS: ACCORDING TO YOUR RISK APPETITE OR @RS 153 Disclaimer: I am not Sebi Registered. All my ideas/opinions and analysis are for...
Breakout expected. Go as per the Breakout . Wait for the pull back . Don't rush to buy/sell after breakout. NOTE: BLUE LINE : Major Support and Resistance line Orange Line : Minor Support and Resistance line