KOTARISUG has given a amazing breakout , breaking multi year resistance and ready to high fly over 69 mark
- Breakout with good volume
- Multi year consolidations
- Inflation and increase in sugar consumptions
- Market is highly volatile
- High interest environment
Looking at similar pattern in 2001 , It is repeating now in 2023.
So this can take a while to hit the ATH , so its really tough time for investor for who bought at high price. but as the inflation is high and considering the % of Breakout the consolidation range can be shorten then the previous pattern. So in upcoming days if the trend line is broken it can go up...
The script is trading at down trend after hitting the all time over last couple of months . The parallel channel represents a flag pole pattern . Let hope it will give an fantastic breakout reaching its all time high as the first target.
the script is growing steadily with a upward trend lines and now looking for a breakout at 103. once its crossed 103 short time traders can jump in and for long term . just wait and watch the show.#Nalco #bearkout.
**Only for educational purpose**
Nifty forms a descending Broadening Wedge pattern and I have predicted 3 possible way nifty will move in the upcoming week. I strongly believe this is the consolidation phase of this wedge and probably nifty will go sideways and reverse the trend.