TGC with strength candle
Reversal confirmation
CCI all time frames >100
W High > 592 awaited
SL 465
Target 620 / 670 / 790
Duration 4 weeks
Retraced from 23.6% Fibo (around 480)
Volume Surge
The stock after moving in an uptrend went into a narrow range forming equal highs and higher lows which is the Ascending Triangle pattern. 2 days back it gave a breakout with volumes and now it is retesting the breakout levels. It is good buy at CMP at 406.5 with a stop loss of 390 and a target of 445.
Seems to have broken recent resistance levels. Ichimoku indicator suggests that trend is got fresh life especially since the lagging indicator i.e. senkou line is now clear of recent price action zone. Plus huge volumes through this wedge like pattern breakout suggests a buy. Expect targets of close to 460 in next few trading sessions. Positional traders can even...
