Vimta Labs is a small cap contract research company with market capitalization of 247 Cr. It has been increasing earnings over last 5 years at 12.5%.
It's consolidating between 100-107. Any breakout above 112, should take the share to 160. Keep stop loss below 99.
#VIMTALABS
#shortterm #tradingidea #technicalanalysis #accumulation
a close above 110 may tag 130 / 150 / 170 #target
a close below 88 will be the #stoploss
After a failed break out can the stock finally give a big break out of over 10 years in the making and be ready to give good returns in the coming months? Keeping a SL of 121 on closing weekly basis, a break out above 138.5 levels is to be keenly seen.
On a move past 120-125 zone, this stock can gain momentum, I feel.
The current price is encouraging as well, to me. Ofcourse, I'm biased :)
View negated below 100.
1. There is a resistance zone (Monthly).
2. In past Price has reversed from this zone.
3. There are four bearish candels with long wicks. Generally Long Wicks from north to south indicates Market Does not have enough steam to push upward.
4.This trade is little risky trade howwever there are chances of price hitting the target
5. RSI is moving downwards.
6....
On monthly chart, the price action formed a cup and hanlde formation, indicating bullish trend to proceed in coming months. Now, the price action is ranging in descending triangle and the breakout from there shall decide the further movement in prices.
