ROHLTD "Monthly Breakout Analysis"
Hello Traders !
The above analysis was done on a "Monthly" basis, the holding period may take a few weeks or months to reach the targets.
Trade Setup and Analysis :
In monthly time, we can see an ascending triangle pattern on the above chart, as well as a Cup and Handle structure, which I have highlighted in the image below; both patterns were bullish in most cases.
Since July 22, the price has risen nearly 175%. I was expecting some consolidation in this region, which could last one or two weeks before the price shoots up further or it may corrects to the 210-220 level.
FII/FPI have increases holding from 3.79% to 4.24% in September'22 Quarter.
Trade Level :
Buy Level : 255 -260
Target : 510
Stop Loss : 175
Happy Trading
The above analysis was done on a "Monthly" basis, the holding period may take a few weeks or months to reach the targets.
Trade Setup and Analysis :
In monthly time, we can see an ascending triangle pattern on the above chart, as well as a Cup and Handle structure, which I have highlighted in the image below; both patterns were bullish in most cases.
Since July 22, the price has risen nearly 175%. I was expecting some consolidation in this region, which could last one or two weeks before the price shoots up further or it may corrects to the 210-220 level.
FII/FPI have increases holding from 3.79% to 4.24% in September'22 Quarter.
Trade Level :
Buy Level : 255 -260
Target : 510
Stop Loss : 175
Happy Trading
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