consolidation breakout

• On the daily chart, the stock has
witnessed “Consolidation Range”
breakout around 470 levels which
signals resumption of the uptrend
• Huge volumes on the breakout , signals
increased participation near breakout
zone
• The stock is strong uptrend as it is
continue to form a series of higher Tops
and higher Bottom formation across all
the time frames
• This buying momentum was observed
from 20-day SMA(438) which reconfirm
our bullish thesis
• The daily and weekly strength indicator
RSI is placed above 50 mark which
supports rising strength. The above
analysis indicate an upside of 550
levels.
*Holding period is 1 months .