Chart analysis: Pattern: Basing pattern is formed and breakout happened in Dec 2023. Breakout: Basing pattern is broke the All Time High (ATH) price after 6 years. Volume: Volume spike is there during BO and the volume is above Moving Average. Target of BO: 223.2
Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades
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Chart analysis in Daily time frame: Pattern: Consolidation phase after a big rally. Breakout: Consolidation phase BO happened on 29-Jan-2024 followed by BO supporting candle. Volume: Volume spike is there during BO and the volume is above Moving Average.
Trade setup: Entry price: Between 172 and 175. Stop loss: Below 165.5 Target 1: 190.35 Target 2: 211.65