Possible trend reversal break-out.
#Evidence of bottom and trend reversal
*As shown in the chart stock price has started forming higher high's and higher low's (3 higher high's and 3 higher low's)
*Stock giving break out of bottom reversal inverse head and shoulder pattern,by clearing multiple previous pivot high's neckline
*Stock crossing 200 EMA,re-testing it and moving back above it making higher pivot low
*Every raise is accompanied by decent volumes,indicating smart money entering.
Over-all at CMP of 25.50 one can go long keeping stop-loss at 20.00 and can expect prices to show 37-39 and 44-46 levels in coming days.Hence we have Risk reward of 1:3
Disclaimer:This are just my views on the stock no position should solely be taken on its basis.
*As shown in the chart stock price has started forming higher high's and higher low's (3 higher high's and 3 higher low's)
*Stock giving break out of bottom reversal inverse head and shoulder pattern,by clearing multiple previous pivot high's neckline
*Stock crossing 200 EMA,re-testing it and moving back above it making higher pivot low
*Every raise is accompanied by decent volumes,indicating smart money entering.
Over-all at CMP of 25.50 one can go long keeping stop-loss at 20.00 and can expect prices to show 37-39 and 44-46 levels in coming days.Hence we have Risk reward of 1:3
Disclaimer:This are just my views on the stock no position should solely be taken on its basis.
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