it is forming Flag pattern on daily chart. after a sharp rise of 18% from lows, it has been consolidating for more than 20 days in the range of 3%.
repeatedly tested 200DMA, which is at 380. a breakout to this level will bring trend change in it.
it has been taking support at 100DMA.
it has given flag breakout on daily chart and taken support at 20D moving average.
and trying to break weekly channel.
volume seems to be relatively higher.
if it sustains above 400, then it is going to be a good breakout
chart pattern suggest, ready for long term trendline breakout.
a breakout at trendline will bring in potential upside of 70-90% upside.
250 level is going to be crucial level,
on weekly chart price consolidated between 220 to 240 for 6 weeks. potential breakout will bring good returns in short term.
keep it on radar.
At least 100 point rally expected in this counter.
At least it can go upto 1180 levels. which is also near neckline of H&S break down.
until it breaks 1300 level with substantial volume. it is considered as pull back.
it is nicely consolidating between upper & lower trendlines.
for the last 1 year, it has been consolidating within 25% from peak.
respecting upper and lower trendlines well. just took the support at lower trendline and bounced from there.
breakout expected soon.
triangle look a like pattern, but not exactly.