BUY ARCHIDPLY CMP: 42-42.20 TARGET: 50/62/80+ SL: 20 1 Month-3 Months view
INVERSE HEAD & SHOULDER AT LOWER SWING, MAY BE A PERFECT CATCH AT THIS LEVEL
In daily, symmetrical triangle formed and breakout happened with high volume,
in weekly, it is in strong uptrend, and recently it broke out of horizontal resistance and landed in all time high zone, also BB is expanding.
sl - 95 1st tgt - 145
Long term trend is quite bullish.
In weekly, price bounced from trend line support, also hidden bullish divergence is seen.
Also BB shows that, 20 ma has been a good support
sl - 80, 1st tgt - 117
Long can be initiated with SL 77, TGT 106.
Disclaimer: I am a novice at charting and this chart is for educATIONAL PURPOSE ONLY, vIEWS AND OPINIONS ARE WELCOME.
On weekly charts, has broken out of its upward channel with good price-volume action. Any dips towards the top end of the channel is a good entry opportunity. Looks like its following its elder peer century-ply
