Stock was in a downtrend and on Friday, gave a good reversal from 530 levels AND closed above resistance of 565. Good risk reward can be seen here if it retests 565 and then moves above 575 for the targets of 614+ and in case bullish momentum continues, can even see 675+
Orient Electric has formed a cup and handle formation on daily charts and closed with high buying volumes on Friday. Possible targets here are 354/380/400+ with 298-300 as good support. Reversed from 50 day EMA of 307.
Stock is making a rounding bottom formation and can test the resistance of 288-290 first with SL at 268 and if any profit booking or retracement happens there, a cup and handle can form too so 275 will be the trailing SL then. 300-320 will be further targets if we see cup and handle formation.
After the 170 resistance was broken, next resistance is seen at 173.5 which if breaks, we can see 175/178 soon. Since trend is positive, possible move on upside is expected.
