8344 consolidation breakout

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Reason for long
a) consolidation breakout. the consolidation is one year consolidation and hence there is a possibility of wave 3 and wave 4 as per elliot wave theory.

b) 5 point indications are positive: first point: QQE positive: 2nd point: Renko positive; 3rd point: Rainbow positive: 4th point: Super trend positive and 5th point: super vwap positve (considering flase high as swing high point).

c) Weekly breakout possibility

d) Price above point of control (POC)
SL compulsory as indicated in chart
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Chart Patterns

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