Today, it was totally a buyers show. Buyers actively took the prices above the previous resistance level of 2940 and now it shall move further up and reach to 3000-3050 levels before the profit booking takes place. It is a good time to enter with stoploss at 2870.
It has first made a double top at the 2680 levels and recently it has broken that resistance and made its all time high. It shows a strong positive momentum and beginning of a new bull rally. I assume a basic psychological level of 2850-2900 shall be achieved.
RSI and MACD both trending up
Nice resistance breakout on daily chart.
1. Share is in Uptrend
2. Risk to reward is good
3. trail stops with next swing
4. Out of supply zone too.
I am not advising on investment , but this is in line with swing breakout analysis.. one MUST take investment decision according to his judgement and investment system.
In my opinion it is the most prominent sell for this year.
Point noted on Daily Chart,
1. Prices reached at previous resistance, (looking for selling tomorrow)
2. Bearish RSI Divergence
3. Triangle Breakout pattern on weekly and Daily Chart
4. Structure trading - Lower High and Lows
Right now, it is at the lowest risk to enter this one.