Volume based breakout of the IPO prices

2023년 6월 3일

For an upside potential target of Rs1000, this can be a good pick. Let's look at the important factors:

Pros:
1. Big green size weekly candle with a rejection at the bottom.
2. Expansion of the price volatility from the narrow range moving averages area.
3. Volume: Spurge in volume. Breakout week's volume is greater than 2x of average volumes
4. Strong movement in the small-cap and midcap indices.

Cons:
1. All time high of the stock could be a small friction zone.

Disclaimer: Kindly note that this is not a recommendation but only a study for educational purpose. Consult your financial advisor before investing.