Infibeam Avenues 8 year downtrend breakout
This price action can be very big for this counter as it was in structural downtrend since its inception nearly 8 years ago.
Major observations include:
1) It is following a 900 day primary cycle. The 4th cycle started around 28th/Aug/2023 with a positive trend.
2) Breaks out of the 8 year downtrend.
3) Looks like first target will be Rs. 29-30. if the price breaks this level convincingly, we will have a confirmation on Primary Cycle breakout.
Major observations include:
1) It is following a 900 day primary cycle. The 4th cycle started around 28th/Aug/2023 with a positive trend.
2) Breaks out of the 8 year downtrend.
3) Looks like first target will be Rs. 29-30. if the price breaks this level convincingly, we will have a confirmation on Primary Cycle breakout.
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