buy THERMAX above 830 closing basis, sl 750 target 900-980-1150
technical chart study
as per technical chart development we can see that, recently stock has given some move after a consolidation of 2-3 months, on long term chart its in development of “ASCENDING TRIANGLE” with the top level resistance near to 900-925 level.
so once stock able to move above our mention price it will able to go till resistance level and if able to give breakout at that stage then we can even see more 200-400 points move after 925-950 level but it will still depend on positional chart development further.
another thing we can notice is recently stock was moving into upward channel but now its moved out of this channel and giving some up move after consolidation.
even rsi still indicating that if price move in direction then there is a scope for indicator, we called it as a “BULLISH NEGATIVE DIVERGENCE”
so overall stock has shown its trend only thing is to wait for confirmation level now, and if able to move above mention level then price can get good momentum.