Target Price: Rs 44
Stop Loss: Rs 38.5
A breakout Of pennant has been witnessed in Infibeam Avenue on a daily time frame indicating a bullish trend in the security. The price is trading at the top, forming a Bullish candlestick formation; The Gradual volume increase on the day of the breakout indicates that buyers are active in the market. In the momentum area, RSI is trading in an upward trajectory.
Stop Loss: Rs 38.5
A breakout Of pennant has been witnessed in Infibeam Avenue on a daily time frame indicating a bullish trend in the security. The price is trading at the top, forming a Bullish candlestick formation; The Gradual volume increase on the day of the breakout indicates that buyers are active in the market. In the momentum area, RSI is trading in an upward trajectory.
On the directional front, DI+ is trading above DI- indicating a positive trend, and ADX trades above DI- indicating strength in movement.
(Drumil Vithlani, Technical Research Analyst, Bonanza Portfolio)
