After falling for about a year, this quality company's share gave a breakout from horizontal resistance during end July' 22. However, the share has retested the breakout level and given a breakout from triangular consolidation/ pullback for about 5-6 weeks on huge volumes. Target for 12 months holding is about 26% higher than the current level. Various levels are...
The analysis is done on daily TF hence price may take few days to few weeks in order to reach the targets.
Trade setup is explained in image itself.
The above analysis is purely for educational purpose. Traders must do their own study & follow risk management before entering into any trade
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ALKYL AMINES has been declining for last 1 year due to rising inflation and costs. However, the company has achieved good results in the first quarter of FY 2022-23, declared today. It has given a breakout from descending trend line as well as from horizontal resistance. At CMP 3188, It looks good for a target of 3460, 3865, weak below 3000.
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