Target Price: Rs 265Stop Loss: Rs 215An impulsive move in the security was followed by a retracement, forming a falling wedge pattern. The decreasing volume during this retracement suggests a potential opportunity to enter the market after a breakout. A breakout on the upside, accompanied by a surge in volume, signifies a continuation of the uptrend in the security.The Relative Strength Index (RSI) is trending upwards, indicating strength in the security’s price action. Additionally, a breakout of the falling trend line in the RSI further confirms the bullish momentum.(Kunal Kamble, Sr. Technical Analyst, Bonanza Portfolio)
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Buy SBI above Rs 770 – Market Trading Guide: SBI, Escorts among 5 stock recommendations for Tuesday
