LT - breaking out of channel / Darvas Box

Weekly Chart
  • Previous trend was 'up-trend'
  • Price went in consolidation in horizontal channel
  • Price breaking out of horizontal channel
  • Stock has been outperforming Nifty based on Comparative RS indicator
  • RSI breaking above 60 levels and MACD histogram > 0 suggesting bullish bias


Trade Execution
  • Entry - CMP 3947 or on dips
  • Stop Loss- Weekly SMA + Swing low on daily chart 3628
  • Target 1 - Horizontal channel pattern height 600 points = 4455

Technical IndicatorsTrend Analysis

Penafian