LIBERY SHOES - LIBERTY TO FLY

RECOMMENDATION - BUY IMMEDIATELY

The stock now seems to have the liberty to fly after breaking out of its cage of 90 to 120 !!

TARGET- 148 , STOP-114, TIME -1 MONTH (APPROX)

RATIONALE -

The stock had been trading in a zone of 90 to 120 since many months. Today's move has decisively broken out of the range with very good volumes.

Vigor of the breakout today leaves very little doubt about the beginning of wave 3 - See the diagram to see how the first wave unfolded in neat 5 waves. Since the wave 1 was dosile, a very dynamic wave seems to be in the offering.

The idea is to just pile on to the stock with a stop at 114 (If the stock falls to this level our assumption of wave 3 would be challenged)

UPGRADE TO WAVE PRO AND GET TIMELY  TRADING CALLS  ON YOUR MOBILE (Rs 100 per call only)

Disclaimer : The recommendations mentioned herein are for educational purpose only. One should not take buy/sell decisions based on the above analysis which is prone to errors. The author does not undertake any liability whatsoever arising out of profits/losses accruing from using the above analysis.