LAXMIMACH has tested 3950-4000 level multiple times and again closed very near to this level. If manage to break it, then it can show good intraday movement. If provide closing above 4010, then can be taken as positional for 4500 & then 5000 levels. Volume build up in recent weeks is also indicating bullish momentum if levels are crossed.
As company don't have very sound financials, keep this 3-5% of your portfolio only.
Watch my other charts to understand simple price action used for all of the analysis. Keep your charts simple and free from lagging indicators.
Thanks Piyush Gupta
Trade closed: target reached
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Made high of 4920 this week. Have more potential but reached more than 20% in 2 months.