Vivek kumar
10 Oct • 4:13 PM · SEBI-Registered Analyst
Lemon Tree Hotels breaks out of a falling wedge!!
Lemon Tree Hotels breaks out of a falling wedge Lemon Tree Hotels Limited (NSE: LEMONTREE) is showing a potentially bullish technical setup after breaking out of a falling-wedge pattern. In its October 9 trading analysis, Moneycontrol highlighted positive volume and follow-through buying as signs that momentum may be improving. The published plan identifies ₹105.20 as the stop-loss and ₹120.70 and ₹128 as potential upside targets. 1. What is happening? The stock was quoted at ₹110.05 in the published analysis. It had recovered from support near ₹100, an area where buyers had previously stepped in. The breakout was accompanied by positive volume, and the price was trading above short-term and medium-term moving averages. 2. Why it matters A falling-wedge breakout can signal a shift from selling pressure toward accumulation. However, the pattern is more reliable when the stock sustains its breakout and continues to attract buying volume. For hotel companies, room demand, occupancy, average room rates and expansion costs remain important business factors to monitor.
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