Patel Engineering Limited
Panjang

Falling wedge breakout.

170
We can clearly see a falling wedge breakout with very good volumes. The mid-cap and small-cap indices corrected heavily from intraday highs, due to which this stock also came down. It retested the breakout and closed inside the support zone with a bullish hammer candle formation. We expect it to reach the 84 zone very soon, which is the ultimate resistance on the weekly chart.

Penafian

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