HI-TECH PIPES LTD
Long

HITECH stock bullish analysis

216
Hitech is a performance based stock. and if we look at the chart we can see it has given the breakout after a nice consolidation of 6 months.
it's exoected to give a nice target of R:R :: 1:4.

Reason
  1. Support at the VWAP.
  2. RSI is in Bullish zone. expected to go higher.
  3. Successful breakout after the 6 month consolidation.
  4. High Volume trade last 2 days.
  5. Multiple time Support at lower trendline.
  6. Price > EMAs


Verdict:
Stock is highly Bullish

Plan of Action:
Buy: 83.70
Stoploss: 79
Target 98.70

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