VAKRANGEE has formed a Double Bottom pattern after being in a Range. There is
a Bullish Breakout from this Pattern with Decent Volumes. MACD is showing a Positive Bullish
Signal and EMAs 5,13 and 26 are showing Positive Crossover showing a Bullish Revival Signal.
Entry : Rs. 39
Target : Rs. 53
Stop Loss : 36
Inverted Head and Shoulder is apparent on the daily chart.
Breakout has already happened on the charts.
Stocks has been opening gap up from past 6-7 trading days, and has reached near previous Falling gap , which could serve as possible resistance (43.30 - 50.20).
Stocks looks good on higher time frame (Monthly ) as well, however reversal is still not evident...
volume profile is showing us heavy buying at lower levels.
( contact me to know more about volume profile in trading view )
see dragonfly doji candle.
is it showing the trend reversal? ( please share your idea in the comments box )
Vakrangee is a very good share for long term investment perspective. As it can be seen in graph that the Primary trend of the share is uptrend and EMA 20 days has been moving above EMA 50 days for a very long time.