Xchanging solutions - CMP 112 -
It is in the formation of bowl pattern or rounding bottom pattern. It took around 40 days to reach base or bottom of the pattern. Depth of the bowl is around 43 points and top of the bowl is 134.4. So initially it may reach previous high of 134.4 to complete the rounding bottom pattern, if it further breaks out from there with good volumes then it can go up by another 43 points, means the first and second targets are 134.4 and 168 with a sl of 95 on closing basis. This is being analyzed for educational purpose and any investment shall be done with the advice of financial expert.
It is in the formation of bowl pattern or rounding bottom pattern. It took around 40 days to reach base or bottom of the pattern. Depth of the bowl is around 43 points and top of the bowl is 134.4. So initially it may reach previous high of 134.4 to complete the rounding bottom pattern, if it further breaks out from there with good volumes then it can go up by another 43 points, means the first and second targets are 134.4 and 168 with a sl of 95 on closing basis. This is being analyzed for educational purpose and any investment shall be done with the advice of financial expert.