Chart Of The Day – Bharat Rasayan Hits Upper Circuit

Despite weakness in the benchmark indices, Bharat Rasayan hit the upper circuit with a 5% gain today. However, the stock is currently trading 17% above from its pivot price of Rs 6,599.00. The stock broke out of a nine-week long cup-with-handle base on July 9, 2018, but it was an eight-stage base. If you purchase a late-stage pattern (after third or fourth); its risk increases.

Bharat Rasayan_MarketSmithIndia

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