The analysis is done purely on basis of price action and chart patterns. The analysis is done on Daily TF with a long term view. Hence price may take several weeks to months to reach the target.
Trade Set-up as well as logic has been given in image itself. Kindly refer the below chart of NIFTY CONSUMPTION chart - RELAXO is a part of NIFTY CONSUMPTION INDEX.
The above analysis is for learning purpose and traders should do their own study before entering into any trade. Trade with your own money & risk management.
Feel Free to comment for any query regarding learning price action or for any suggestion.