Stock is making regular higher lows and respecting an upward trend line, making a rising wedge pattern as well and looks all set to give a breakout from immediate resistance. Breakout could be meaningful because it could negate the head and shoulder pattern. Stock is outperforming nifty, which is a good sign to take long positions. Volumes are also rising from average.
Buy when price sustains above 292, Review this position at 330. Keep a stop loss below 272 in this trade. Head and shoulder pattern can activate below 272 level which can bring some downwards movement in stock price in short term. So please keep a strict stop loss.
All levels are on daily closing basis.
Buy when price sustains above 292, Review this position at 330. Keep a stop loss below 272 in this trade. Head and shoulder pattern can activate below 272 level which can bring some downwards movement in stock price in short term. So please keep a strict stop loss.
All levels are on daily closing basis.