Scallop has broken out at 393. If it holds this level targets could be 460/500 and a blue sky target of 610 ( Full target for scallop)
Disclaimer: Only for study/discussion purpose, not a recommendation.
Possible medium term trades:
Scenario 1 : Has resistance at 394 ( 20 DMA) and 400.
Can be bought with SL of 390 for a first target of 435
Scenario 2: If 390 breaks can be bought at 370 for a target of 435.
Long term trade:
Broken out of channel at 400 for a target of 660, if it stays above channel.
Disclaimer : Not a trading recommendation. Only for...
Stock is at a critical point where it has held its 20 DMA support and at the verge of breaking out of the channel. A good entry point with 52.5 as SL for targets 65.5/79/97
Possible resistance levels have been mentioned in the chart.
Disclaimer : For study/discussion purpose only, not a trading recommendation.