Easemytrip's bullish breakout suggests potential price growth. Favorable market sentiment and increased demand may drive the stock higher, presenting an opportunity for investors to benefit from the positive momentum.
Greetings Folks,
today i have prepared a setup of EASEMYT on NSE
the analysis is as follows
- price is in a minor range , can breakout above
- nothing much to address more
dont play with fire, always use a predefined stoploss
In the Latest, ease my Trip has been seen taking support around 40 levels twice in the past few months.
First in the month of March 2023, and second in July 2023.
Now, if it sustains above 40 levels, it is most likely to move towards 55 levels in the coming months.
Immediate weekly resistance is around 48 levels.
Currently price is moving below 200 DMA after death cross and head & shoulder pattern formation.
Everything is good about the fundamentals except valuation.
Around 6% of the promoter's holdings were disposed ahead of General Sales Agreement with Spicejet Airlines.
Looks like a 35% dump is on its way to achieve the target of H&S pattern around 28 odd...
