this is good example for consolidation breakout and formation of triangle pattern
and giving good returns.here in this stock it discount the future as it is approching earnings date
if the earnings are good then it may consolidate or move up ,if they are not good the it may move down
this one of the price action patterns widely seen.it has
formed good structure but not good price volume expansion.
weekly bullish engulfing is formed.enter this stock only after
bullish confirmation above 3947.75 level
to reduce noise i chose weekly t.f and this is similar to tech mahindra
breakout after long consolidation .volumes on daily t.f with green candles
if ur budget less then go for techm and if have good budget go for lti
A decent flag pattern is formed on weekly and also daily by breaking trend
line on fourth time with good volume on daily t.f .but did not close above 134,
if there are any bullish confirmation above 134 resistance then i will enter the stock
this weekly chart which gives neat idea of structure and less noise.
there is good volume expansion with wide range green candles.you
have to be patient with these kind of stocks and stick to weekly time frame