TILAKNAGAR INDUSTR (TI) breakout analysis BUY

12 Nis

TILAKNAGAR INDUSTR (TI) has given a breakout of bullish flag and pole pattern to upside.
All important levels have been marked at the chart.
As stock has broke to upside you can generate a buy @LTP.
If we see the volume surge it was massive yesterday. if we enter stock at 230 we can achive the target with
Risk: Reward :: 1 : 3.

Reasons:

1. Bullish Flag and POLE breakout to upside.
   
2. Taking support at the VWAP, indicates good sign to enter.
   
3. RSI crossing 60 to upside shows good bullishness.
   
4. Successful breakout after 6 months.
   
5. High Volume is traded last day, which shows lots of interest in stock buying.
   
6. Price > EMAs, shows bulls are more powerful than bears we can make an entry.
   
7. Taking successful support at 200 EMA with good buying interest(volume spike).
   

Verdict:
Strong Bullish

Plan of action:
BUY: 230
Stoploss: 214
Target: 281
Trailing SL: 5

12 Nis

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