Breakout of descending triangle pattern
Updated
Glaxo has BO'd from triangle pattern...it has been falling since some time, and IF IT CROSSES THE 200 EMA with good volumes in coming days, then i would take a position, not before that...because it could hit the 200EMA and slide down again. This is an idea, not a recommendation...remember the broader market has been falling too since a few days so be cautious.
Note
Glaxo opened above 200 EMA..is up 5% todayNote
Glaxo is moving up steadily..target 1 achieved..Note
Close to target 2...13.4% move already...1515 to 1730..moved 5% todayNote
All targets done..today it has moved almost 10%...CMP 1772
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