This is a last 15 months chart of Vimta Labs and a clear flag pattern can be observed. The stock yesterday broke out from flag and closed above the upper end of the flag with vols that were highest clocked in last 12 months. To call it a perfect breakout the stock needs to sustain/close above the upper end of the flag for few days as the pattern was formed in 15 months so atleast few (3-5) days are required to confirm a breakout. Buy Vimta Labs on dips to 38-40 with a stoploss of 35 on closing basis and look for 50/65 in medium term.
Stock View: PNB
Clear Inverted Head and Shoulder pattern is observed on the daily charts of PNB. The stock is going ex dividend on 8th july so a late spike was observed in the stock yesterday. Buy PNB on dips in the range of 1055-1065 ( preferably after the stock is adjusted ) with a stoploss of 1025 on closing basis and look for 1125/1150 in short term.. P.S. you will not get a 12 rs final dividend on the stock as yesterday was the last day to buy to be eligible for dividend
Have a nice day
Regards
Ankit
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