TILAKNAGAR INDUSTR (TI) breakout analysis BUY TILAKNAGAR INDUSTR (TI) has given a breakout of bullish flag and pole pattern to upside.
All important levels have been marked at the chart.
As stock has broke to upside you can generate a buy @LTP.
If we see the volume surge it was massive yesterday. if we enter stock at 230 we can achive the target with
Risk: Reward :: 1 : 3.
Reasons:
Bullish Flag and POLE breakout to upside.
Taking support at the VWAP, indicates good sign to enter.
RSI crossing 60 to upside shows good bullishness.
Successful breakout after 6 months.
High Volume is traded last day, which shows lots of interest in stock buying.
Price > EMAs, shows bulls are more powerful than bears we can make an entry.
Taking successful support at 200 EMA with good buying interest(volume spike).
Verdict:
Strong Bullish
Plan of action:
BUY: 230
Stoploss: 214
Target: 281
Trailing SL: 5
