Weekly Chart CMP 1257 Expected target 1260 + (1200-800) = 1660 plus Stop : Trail 30 weeks ema, currently at 1080.
1) The stock has broken past the small consolidation zone (W pattern) and also the broader consolidation zone with huge volumes. 2) Relative Strength with respect to broader index indicates serious money flowing into the stock. 3) RSI has been in the bullish zone (> 50) and has been entering into the overbought zone more frequently, meaning, buying happening at all retracements.