Shitij Gandhi
After making a double bottom pattern on the daily charts, INOX Leisure recovered sharply from lower levels and tested Rs 230. On daily charts, the stock has made a symmetrical triangle pattern and has managed to give breakout above the same this week.
The breakout has witnessed marginally higher volumes that suggest strength in the current move. Traders can accumulate the stock in a range of Rs 225-230 for an upside target of Rs 250 and a stop loss below Rs 210.
The author is a Senior Research Analyst, SMC Global Securities Ltd.
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