The stock has been trapped in a channel for a long time. Last day, it broke out of the pattern and also retested the trendline today, so we can see trend continuation next. The bullish trend will be confirmed if the latest high of 710.5 is broken. This is an intraday as well as swing pick from my side. Also note that trend reversal can happen from resistance.
Note:
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- Buy above 710.5
- Sell below 702
Note:
- Avoid the stock if a big gap up or gap down is seen
- Enter after the breakout happens and not before it
- Do not chase the market, i.e., do not get involved in late entries
- Only enter with strict stop-loss and target
- This is not a recommendation and is for educational purposes only.
- always follow risk-reward and quantity management for the 100% of the times
- The above mentioned idea may not work, so beware of the risk you are taking
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Happy Trading!!