Sky Gold’s Breakout: Falling Wedge Pattern Points to Big Upside!

Hello everyone, i hope you all will be doing good in your life and your trading as well. Today i have brought a stock name with Sky Gold & Diamonds and it is showing a promising Falling Wedge pattern, and with the breakout above the upper boundary, it’s signaling a potential bullish move ahead. The breakout is supported by a volume surge, which suggests smart money may be entering, reflecting strong market interest. This could be the start of a solid rally.

On the fundamental side, Sky Gold has been performing well, with a 51% YoY revenue growth and a 117% jump in net profit for FY2024. The company maintains a solid ROE of 24%, with a manageable debt-to-equity ratio of 1.25, showing strong financial health and good prospects moving forward.

For this trade, 351-340 is a good entry range, with a 296 stop loss. I’m targeting 426, 483, and the final target of 553. This setup offers strong upside potential, but as always, make sure to manage your risk and keep an eye on the price action. Let’s see how this one plays out!

Disclaimer: This analysis is for educational purposes only. Please consult a financial advisor before making investment decisions.

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