The stock is testing it's 2 year old trendline and has made a double bottom pattern. High volmes have also built up. Buy above 108 level for targets 112.5 and 117.5 positionally.
Learn & Earn,
Dr. Tanya Kumar
Found a symmetrical triangle pattern breakout in this scrip and as time value is spent after breakout, this stock might have a further upside. Investors might enter with a tight stop - loss below halt candle's low(daily timeframe halt candle).
The stock recommendation base on following parameter:
a) Multiyear Resistance Breakout (highlighted in yellow)
b) Breakout-Pullback-Bullish Engulfing Candle (area highlighted in circle)
c) Highest Volume
Hope this help you in learning.
SL: Depending on your risk appetite: Below Weekly BO Candle / Below Daily BO Candle / 50% of Weekly BO candle / Below 20DMA
TGT: After a 10-15%+ vertical move, breakdown of 20DMA (on a daily close basis)
Never ever buy before 3PM. I have been burnt many many times. Try to buy between 3:15 - 3:30PM, later the better.
Breaching in the resistance zone with quite high volume can be seen in weekly timeframe chart can also be called as Range Breakout . would suggest to make a long position at current levels and go for buy on dip if shows any dip till 95 level, can go long at CMP for the given targets in chart with the stop-loss of below the zone (exit only if weekly candle closes...