Weekly Chart
Trade Execution
- Previous trend was 'up-trend'
- Price went in consolidation in horizontal channel
- Price breaking out of horizontal channel
- Stock has been outperforming Nifty based on Comparative RS indicator
- RSI breaking above 60 levels and MACD histogram > 0 suggesting bullish bias
Trade Execution
- Entry - CMP 3947 or on dips
- Stop Loss- Weekly SMA + Swing low on daily chart 3628
- Target 1 - Horizontal channel pattern height 600 points = 4455
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.