Rectangle breakout on the weekly chart.
The breakout is supported by good volumes.
The Momentum indicator MACD turned green on the latest weekly candle (Just for BO confirmation).
Buying can be done at CMP ~ 635
Stop loss would be breakout candle low on daily which is 616
2017 high is 661, which should be taken out sooner or later.
One can add few...
Made a short-term top at 1400 levels, retraced for ~4 weeks with price correcting close to 26%, made a bottom at 1023 levels, and now it looks the correction is over and it is heading higher. The journey towards 1400 may not be easy though. Trade with SL.
The retest of the breakout has happened, now a hammer formation is showing signs of recovery. This is a weekly chart, and a beautiful hammer is already in place. If next week's candle is green, we can see momentum coming back
An additional confirmation would me weekly MACD turning green.
Once the MACD turns green, we can start building positions in smallcap space.
Breakout above Rs 650 with stop loss of Rs 525 on weekly closing basis.
The current week's candle is having strong volumes, it is likely to break in the coming week.
Fundamentally one of the best companies in Aquaculture domain.