Scrip has been on the bullish trend with formation of ascending triangle
Ascending triangle
The ascending triangle is a bullish pattern, which gives an indication that the price of the security is headed higher upon completion. The pattern is formed by two trendlines: a flat trendline being a point of resistance and an ascending trendline acting as a price...
Aptech
CMP 214.50
Observations
The stock has had a fantastic ride in the last 1 year moving from 56 odd levels to 250
228-240 zone is looking likely to act as potentially strong resistance zone going forward
Expecting the stock to consolidate in the range of 228 to 192 with possibility of some downward bias breaking on the down side testing 166-160 levels...
Aptecht has taken support of 20 period moving average & looks like some steam is still left. In today's session- let it pullback to the zone 128-129 & rally above 130 mark- in that case longs could be initiated taking care of 123 as important support in scenario.
Regards,
Abhishek H.Singh, CMT
Aptech Has broken out from Classic Flag Pattern.
Swing Traders can buy this stock for below targets:-
Target 1- 184
Target 2- 200
Target 3- 228
SL- 163 ON CLOSING (Trail Once you are in Profit)
Likely -It is getting ready to jump above 135 -& should hold the 126 level on down side. If breaks above 135- join the exciting rally, but keep booking profits - possibly kissing 150+ zone.
Are you part of this...Awesome..Aptech is running in 3rd wave-if aren't a part of this, then you are missing something. 3rd wave should complete at 170-175 zone where it will finish 161.8 of the 1st wave starting from 40.25 low- which completed C-Wave since 2007 fall from 440's.
