LT - breaking out of channel / Darvas Box
Weekly Chart
Trade Execution
- Previous trend was 'up-trend'
- Price went in consolidation in horizontal channel
- Price breaking out of horizontal channel
- Stock has been outperforming Nifty based on Comparative RS indicator
- RSI breaking above 60 levels and MACD histogram > 0 suggesting bullish bias
Trade Execution
- Entry - CMP 3947 or on dips
- Stop Loss- Weekly SMA + Swing low on daily chart 3628
- Target 1 - Horizontal channel pattern height 600 points = 4455
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