Buy Range:396-398
Stoploss:383
Target:425
Move: upto 6.5%-7%
Duration: In 20-25 days
This large-cap IT stock has been consolidating for a couple of weeks within the technical price pattern of a symmetrical triangle. The price is seen attempting to break out from this pattern. This can trigger a potential up-move in the stock by close to 6.7%. This price set-up...
KEEP ON WATCHLIST
chances are that the breakout will be in downside after breaking 1890, but it won't be that beneficial.
if we get to see the breakout on upperside, breaking 1975-1995 then we can get maximum benifit from it
Targets are 2150, 2445
SL is the trendline.
After seeing the chart and understanding the pattern,
I think that this is how m&m could work till mid December.
It will make a range of 20-25pts and then give a breakout and will reach till 1330 again.
There are also chances that it will give breakout downside but it won't fall much it will go like -30 to -50 pts after that
As I can see, in whe weekly time period of bank of baroda the market is responding good
It can take support around 128.85
Also you can see the trendlines and when the support of 128.85 is near the it is natural that you should take a long position.
