TARGET - 415 , TIME -T +14 DAYS
=> A breakout of the downward sloping trendline.
=>Resilience during the recent market fall.
=> Even on weeklies, the previous significant peak was unchallanged which is distinctly not the case with other mid cap stocks.
The positive view stands intact as long as the stock trades above 348 on a closing basis. Below this level, the perceived higher top and higher bottom formation would cease to exist and hence long positions would not be warranted.
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.
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