Simple range breakout expected.
Stock already in higher high higher low formation on large timeframes
Good consolidation of 5 months, after a healthy up move.
Stock entering into expansion mode after contracting for last few weeks. check image below.
SL is wide at 1020 around 12 % form CMP.
Risk can be managed by reducing quantity and keeping risk limited to certain percentage of capital as per risk appetite
Stock already in higher high higher low formation on large timeframes
Good consolidation of 5 months, after a healthy up move.
Stock entering into expansion mode after contracting for last few weeks. check image below.
SL is wide at 1020 around 12 % form CMP.
Risk can be managed by reducing quantity and keeping risk limited to certain percentage of capital as per risk appetite
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Breakout!