Indutry – Oil & gas
The stock started its uptrend from 150/- after forming double bottom in Mid February. Journey was halted in June beginning at 270 when the stock gave a 50% pullback of the advance to 210.
The low of 210 was formed in July. Thereafter the stock has spent 1 month in the band between 230 & 250. From 250 levels it hasbroken out of trianglw with good volumes. The oscillators have also shown a positive divergence.
Stock warrants a buy with a stop at 235. Targer of 320 looks easily possible.
CMP – 260.
Risk- 25
Reward- 60.
Ratio – 25/60 = 42%
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