Rectangle Breakout Identified in Indian stock
Just first a small update for you on rectangle breakout which is as given below:The rectangle is a classical technical analysis pattern described by horizontal lines showing significant support and resistance. It can be successfully traded by buying at support and selling at resistance or by waiting for a breakout from the formation and using the measuring principle.
So, here we have captured a rectangle breakout in Ashoka Buildcon where sustaining above 68 means stock is heading for 75,80,90 levels.
Have a look at the stock chart analysis below for the stock and do not forget to check the Market tips for Monday here.
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