The stock had earlier broken out of its channel but post few sessions I got convinced that it was a false breakout. Post poor results the stock has broken down of a descending traingle that too in a uptrending NIFTY. Likely target on the stock is 47500-48000. SL has be closing above 52000.
The chart has broken out of a symmetrical formation of over a year. Today's volume has confirmed the reversal in trend. Buy in 16-17 range for near term target of 20-21. Medium term target is now 30.
Would appreciate views from others also..
The stock has broken its downward trend after a substantial time. Though it had not participated earlier in Bank Nifty rally, its poised to make a smart comeback to 490-95 zone. Even the RSI uptick is indicating the same.
The chart has been on a downtrend for a long time and is now showing signs of reversal as it has held it long term support zone of 140 and has also broken the downward sloping channel. Should be bought once critical resistance of 146 is breached.
This has been one of the few stock which turned around in a falling market and broke its downward sloping channel. The stock has recently made a inverse head & shoulder pattern and can be bought around 73-74 with a target of 82-83. SL 69.
Note: Sharp Nifty correction can negate the view.
The stock had initially broken out of a downward sloping channel and had held for quite sometime. After much of consolidation it has started moving up again and also has formed a inverted H&S pattern. Stock can be bought at cmp 638 with a target of 680. SL 625 (should trade below this level for sometime). Would not be surprised if this stock breaks 700 also.