FDC trade ideas
FDC on super bull runFDC is on a bull run after company's announcement of buyback @Rs.450/sh , the stock has shown massive growth technically respecting its narrowing upside wedge , the question now is that will it be able to give a breakout above its 5year divergent channel or will show resistance around 425 which has been indicated in my chart using trend lines NSE:FDC
FDC - LOOKING VERY BULLISHFDC
CMP 305
TARGET 360 PLUS
STOP 275
Weekly chart
1) Stock has cleared previous reistance with huge volumes.
2) Stock has had a long consolidation W pattern spanning several months, the range of which has been convincingly broken out.
3) Stock has the potential to move towards 360 plus in the coming weeks time.