Coromandel International (NSE: COROMANDEL) Forecast

Wait for the weekly close
Based on the daily chart for Coromandel International (NSE: COROMANDEL), here is the summary:

Key Levels:
- Breakout Level: Around 1287-1290

Current Price:
- Current Price: 1287.85

Chart Analysis:
1. Ascending Triangle Pattern: The stock has formed an ascending triangle pattern, a bullish continuation pattern, which it has recently broken out of.
2. Breakout Confirmation: The breakout from the ascending triangle indicates a potential upward move.
3. Targets:
- Short-Term Target 1: 1320
- Short-Term Target 2: 1380
- Long-Term Target 1: 1450
- Long-Term Target 2: 1700

Strategy:
- Entry: The stock has already broken out of the ascending triangle. A potential entry point would be on a pullback to the breakout level (around 1287-1290) or on confirmation of sustained upward momentum.
- Stop Loss: Consider placing a stop loss below the breakout level, around 1260, to manage risk.
- Targets:
- For short-term trades, consider taking profits at 1320 and 1380.
- For long-term trades, the targets are 1450 and 1700.

Conclusion:
- The stock has shown a strong bullish breakout from the ascending triangle pattern. The breakout suggests a continuation of the upward trend, with short-term targets at 1320 and 1380, and longer-term targets at 1450 and 1700. Monitoring the price action around the breakout level is crucial for confirming the trend and making informed trading decisions.