TDPS preparing for a zonal breakout and 15-20% rally!!The stock had given a successful breakout from a major resistance/supply zone of INR263-270 in Nov 2023 and subsequently formed a one month trading range right above the breakout zone.
INR 285-290 is now the new resistance zone that the stock is now eyeing to breakout out from in order to go past the INR 300 mark.
On Wednesday's trading session the stock broke out from a minor trend line resistance with a slight uptick in volume. This minor breakout can provide the necessary fuel for the stock to clear the INR285-290 zone with some momentum.
CMP - 278
SL - 264(5%)
TARGET - 320(15%)
RR - 1:3
Note*- Not a suggestion to buy/sell but a personal opinion on the stock. Please do your own research before taking any investing/trading decisions.
