This stock is very interesting from technical analysis view for following reasons
- It has made an inverse Head & Shoulder pattern indicating its bullish intentions.
- It attempted to breakout with huge volumes from a med term falling resistance line, But unfortunately it attempted on a day when the sensex tanked nearly 500 pts. and it had to retrace in line with the broader market.
- It has made several attempts to breakout of the highest close of last 20 sessions.
It should breakout sometime this week and head for 95-100 in short term. The level to enter the stock is above 83 with a stop of 74. Though the stock is headed much higher in medium term.
No comments:
Post a Comment