On the longer term weekly charts, the price is showing a break out from its major resistance zone at Rs 97-100. This zone is the 52-week high and it shows that the stock is reviving from a major accumulation phase. Appearance of a series of green candles in the last several weeks show buyers are in control of the price action. On the daily time frame, price is...
Medium Term Trade: Spencer's Retail is on the verge of breaking out of an inverted head and shoulders pattern.
Buy: Spencer's Retail
Stop Loss: 79
Holding Period: 2-3 Months
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