Monday 24 October 2016

Tarmat Ltd – Ascending Triangle Pattern Breakout.

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Tarmat ltd on a daily chart stock price is making higher high pattern, also its trading above 20 DMA, indicate stock is well placed above the support level. On a daily chart stock price at Rs. 52.75 has given the breakout of the upper level of ascending triangle pattern, indicate stock price can rally towards Rs. 78 level most likely. Momentum oscillator RSI having more room left on upside, which add more bullishness for the stock price.


If one were to go by the volume data, a higher upswing is seen on the stock price. Trader or investor can accumulate at Rs.52.75 for the target of Rs. 78 levels, with Rs 44 stop loss on closing basis.


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