3 year range breakout with a buildup
20 EMA has also caught up with the buildup
Decent volume on breakout candle
First entry around 300 & add more around 280
SL below 235 WCB
NIFTY METAL INDEX
Monthly log chart
Has given a fresh breakout
Can touch 3900-4200 (ATH) levels
Keep metal stock in radar for 30-50% moves
Especially the ones that have not yet performed
Indostar - Breakout with a Buildup
After a good consolidation, the stock has now given a fresh breakout
20 EMA caught up with the buildup before the breakout
Stock is also above the top made in Feb'20 and a recent high made in August
Till the time stock price is above 250, it is looking good for 50-100% gains
Above 95 WCB, looks good for 130 and 165. Currently momentum is strong and need to cross 95 (weekly 200MA hurdle) for the next leg of upmove
Time frame : 6 to 12 months
⚡️Horizontal Breakout above 490
⚡️Trend of stock has reversed after sloping trendline breakout above 420
⚡️200 SMA breakout above 420
⚡️Strong trend confirmation by RSI and ADX
⚡️Looks good for positional 10-20% upside with SL below 425
