Breakout of the Day -

MAZDOCK

hi, as u can see chart we have a bullish breakout in

, 1900 was acted as a strong support, and some double bottom similler pattern revers the stock, we can see a clear bullish flag pattern on daily chart as well, the bottom of flag poll wa at 1050, and top around 2900 levels, so after breakout we can see rally of 2900-1050= 1850 points, flag's upper trend line ressistance was around 2520 and that has been broke out today with closing of 2625, indian defence stocks were in a rally today, index gained 6% in intraday session, demand from European countries amid ukrain and russia concerns boosting the prices of defence shares, that rally may continue for upcoming few sessions. above views are only for educational purpose, kindly take advice from your advisor before the investment.