It can be bought if it sustains above 58.5 on closing basis for a potential target of 75. SL 57 on closing basis. It is breaking out of a symmetrical triangle. RSI is also in an uptrend. Only worry, volumes
Disclaimer: I am a novice at charting and this is for educational purpose only. Views and opinions are welcome.
Price has hit Resistance and it is retracing. Good possiblity of traders booking profits. Price is retracing. Price may hit 1st Take Profit level at and then should move down further to price at 48.49.
***Idea is Published only for educational Purposes***
Morarjee Textiles Ltd. engages in the manufacture of textile products. Its products include cotton shirting fabric and printed fabric. The company was founded on July 14, 1995 and is headquartered in Mumbai, India.