Channel Breakout in MCX

From past few months stock has been trading in a channel. Finally it has broken from its previous resistance with significant volume.

Also, recent quarter results were good. we can expect a good upside move from current levels.

At this price risk reward is not attractive. So, it is better to wait for retest near 1435-1400 levels.

Maintain strict stop loss at 1290.
All possible targets are marked on the chart.

This is just a view, not recommendation to trade. Do your own analysis before making any investment.

Do like and share this idea and share your opinion in the comment section.

MCX