This is one of my favorite and i have been recommending this stock from 113. This is my forth buy recommendation. This week, the stock has given a breakout on weekly and monthly charts after 14 years of consolidation. This long consolidation can give tremendous returns. 141.5 was the monthly all time high, whereas, 157.55 was weekly all time high. As per fibonachi, targets are 237, 368, 500 and 580. On weekly charts, the stock has given up flag breakout after trading in range for couple of months. This is a very good fundamental stock too so all the investors should consider this stock for their portfolio. Buy 50% @ CMP and rest 50% around 155.
Targets - 237, 368, 500 and 580 Weekly and monthly. Time - 1-2 years. View - Medium to long term.
@dkmusale5, I think it may take 1 year plus! 2 years max.
dineshkumardini1994
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hi sir , what might be the next break after breakout ??? will it be same 368???
AbNamjoshi
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@dineshkumardini1994, 368 will be next major resistance. Before that it might take few small resistances. However, do not exit at 368.
dineshkumardini1994
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@AbNamjoshi, okay sir thank u so much for valuable reply. will hold till 520-550
AbNamjoshi
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@dineshkumardini1994, in my opinion, keep few stocks as your long term portfolio. Do not sell them until you are in need of money or they form trend reversal pattern on weekly charts. Few stocks use it for trading and generate regular income.