Parallel channel !!

Stock has been trading in parallel channel making higher highs and higher lows. Also it has corrected nearly 25% from its high of around 1564 levels till 1170 levels, with almost subdued volume action.

One can consider long position at CMP with SL as closing below the channel on weekly CB and target can be near or breaching the upper trendline, with more than 1:3 RR.

Results to be announced next week.

Kindly do your analysis before initiating trade.