Possible trend breakout in Lumax Industries

17 thg 7, 2022

Observed possible symmetrical triangle breakout in Lumax Industries. Previously stock was facing resistance multiple times at the trend line. Now we can see the price is moving above this trend line. We can also see increased volume at this point. We can enter the trade if the price closes above 1525. All possible targets are mentioned on the chart.

Trade set-up
1) Take position if price closes above 1525 in weekly chart.
2) Possible targets are 1723,2166,2580.
3) Stop-loss can be placed at 1070.

This is not a recommendation. Do your own analysis before investing.