HSCL Bullish Breakout analysis 13 Nov
HSCL is a process industry. By looking at the chart data, it has given a confirmed breakout. After a nice bullish move, it has been consolidating for the past two months. It now again has given the breakout of the descending triangle pattern, which is a continuation pattern.
HSCL might be making a nice, bullish move.
Reason:
Verdict:
Highly Bullish
R:R :: 1:3
Plan of Action:
Buy: 259
Stoploss: 245
Target: 295
HSCL might be making a nice, bullish move.
Reason:
- Price > EMA(13,50,200) seems continuation of the trend..
- RSI > 50 crossing 60, means bullish trend.
- Price > Vwap (just Near the VWAP to upside)
- Descending triangle pattern BREAKOUT to upside
- Volume is more than average(20) that shows heavy bulls intrest in buying side.
Verdict:
Highly Bullish
R:R :: 1:3
Plan of Action:
Buy: 259
Stoploss: 245
Target: 295
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