Lately, the stock has been trying to break the previous swing high of 135.50 on the back of high volumes but has been unsuccessful on at least four occasions in the previous attempts. The direction of movement for the stock will depend on whether the stock gives a breakout or a breakdown from a range of consolidation from 108-135.50. Below are the possible scenarios as per my analysis
CMP - 119.75
Breakout above the level of 135.50
T1 - 167.00
T2 - 180.00
SL - 108.00
Breakdown below a level of 108.00
T1 - 95.50
T2 - 85.00
SL - 108.00
Do consider following the account if you find the content delivering value to you :)
CMP - 119.75
Breakout above the level of 135.50
T1 - 167.00
T2 - 180.00
SL - 108.00
Breakdown below a level of 108.00
T1 - 95.50
T2 - 85.00
SL - 108.00
Do consider following the account if you find the content delivering value to you :)
Trade active:
The stock has given a breakout above the level of 135.50, those who have initiated the trade, keep holding the same with a SL of 108 for the mentioned targets. Do like the idea and follow the account if it delivered value to you :)
Trade closed: target reached:
Both the targets of long positions were achieved on 29th March 2022. Do consider hitting the like and follow button if the idea delivered value to you