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nikhilchhabra

CHOLAMANDALAM INV near Breakout levels

Long
CHOLAMANDALAM INV (NSE:CHOLAFIN)  
nikhilchhabra  
NSE:CHOLAFIN   CHOLAMANDALAM INV
Trend Analysis Chart Patterns Ascending Triangle ascending breakouts emacrossover goldencross
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trendanalysis chartpattern ascendingtriangle ascending breakouts emacrossover goldencross
The stock is forming an ascending triangle pattern backed by price rising on the 20 EMA. After the golden crossover of 20/200 EMA the price seems to be headed upwards and can prove to be a potential winner if the trend continues. The current price is near new breakout levels as it surpassed previous highs recently.

This stock is also showing a good RS vis-à-vis Nifty 50 Index which shows it is a outperformer.
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