The stock has given a breakout of the ascending triangle pattern it was trading in, coupled with decent volumes. One point of caution here is that RSI is about to cross 70, hence watch the movement closely.
I believe the trade can be initiated if the stock manages to sustain over 237, for targets of 260 and 286. Stop Loss can be maintained at 223.
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@B454545, Grindwell is touching its upper resistance and is also in the overbought territory. It is likely to show a pullback to 1350 levels. If it crosses and sustains 1460, the next target is 1630.
B454545
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@Yes2Profits, as stock crossed and sustained 1460 level for full day but next day it started falling. My analysis was also same as your. Can you please tell why this happened as there was also breakout. Share your views on this.
Yes2Profits
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@B454545, As I mentioned, the stock is already in the overbought territory. It might stay in consolidation till the RSI cools down a bit before it moves ahead. The good part is that it held a closing of 1460.