On a Monthly Timeframe, In this stock gives the breakout of ascending broadening wedge pattern near 1850 level. So it is a wise idea to trade in the breakout direction at the current level. According to this pattern most of the time it gives correction movement after the breakout. So for confirmation entry can wait for the corrective movement to entry.
The target is the full height of this wedge pattern and it can be 2565+ in LT. Can take position near 1850 level with stop loss below 1590 level. Keep some space in stop loss below 1590 according to your risk management. This position can give a good risk-reward for the short term.
The target is the full height of this wedge pattern and it can be 2565+ in LT. Can take position near 1850 level with stop loss below 1590 level. Keep some space in stop loss below 1590 according to your risk management. This position can give a good risk-reward for the short term.