Mahindra Lifespace Developers is poised to give a breakout of a symmetrical triangle. Breakout has not yet happened on a closing basis, so strictly speaking one should wait for it to happen. But I am sticking my neck out on this one and reccomending it, because all other indcators like Moving Averages, MACD, Stochastics and RSI are showing positive cross over on the daily charts.
Again these days, breakouts happen with huge surge in prices and there is little opportunity left to buy. In this case there is no significant resistance on the upside unlike it would have been in the case of an ascending triangle or rectangle.
SL : 340
Target : 435
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment