WHEELS INDIA - MONTHLY BREAKOUT - SECTORAL TAILWINDS

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Hi Folks,

Auto ancilliary sector is going through accumulation without much price movement. Many of the stocks in the sector are setting up well for mid term trade(3-6) months. Wheels India has given a breakout from bullish pendant pattern on a monthly timeframe. RSI breakout augments the price movement too. Targets are marked with initial ones of previous swing highs and then last target of pattern breakout.
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Strong breakout retest and followed up with strong up move.
Chart PatternsTrend Analysis

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