Price has taken support over broadening ascending channel, Targeted zones are highlighted with red horizontal line.
take a position with the stop loss of 1936.
IPCA - Has gone into consolidation immediately after the long volume candlebar. AVWAP proving a strong resistance. Need to cross the AVWAP with volumes for next big move. Similar consolidation happened earlier also as highlighted in Chart.
DISC: Not a SEBI Registered. I post charts for my own study.
NSE:IPCALAB is currently at the FIBONACCI LEVELS of 0.618 , and if it sustains this level we can see it going upwards from here. While ParabolicSAR is not giving a clear indicator, however if the share maintains the upside in the upper StocRSI BAnd, the stock can stand the rally.
No Big Bets.
Disclaimer: The analysis is for the education purpose. Kindly...
The Major pattern is the Broadening pattern which stock is following since last year October 2019, it has almost doubled from then.
but if you see from April2020, the stock was consolidating sideways forming channel pattern. So indirectly it contributed towards flag formation, it has broken upside.
Technically,
There are 2 Targets , Channel and Flag Formation
T1...
