After breaking the confluence of the down trend line as well as the resistance levels 95-109 it had formed a base of 17Weeks and 37% range where it retested the resistance which turned into a support. We see a good volumes coming up over the past few weeks showing strength.
It is now above all its key moving averages.
135-143 shall now act as an initial support...
NSE:STCINDIA
cmp 153
heading towards 250-300
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NSE:STCINDIA viewpoint
the stock has given good breakout on weekly time frame around 80
can give quick 30% gains in coming months
cmp is 90
once it gives breakout above 120 levels, it has potential to reach 190-200
patience is the key here
this analysis is for knowledge sharing and educational purpose .
this post is not a buy or sell recommendation.
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Trendlines are marked. Though in daily TF you can see, today it broke the immediate 3 months resistance. This could indicate to the potential breakout of the biggest resistance this scrip has ever broken. Also see, how the daily volumes have been building up on bullish days when compared to bearish days.
13 week cup and handle base. around 2 week handle.
Volume contraction is very good.
shakeout in the base
only red flag is 33% depth of the cup.
if stays above 70 (weekly S/R) - may touch 100.
