Stock of the Day – Esdee Alluminium

While the name of the company seems to suggest it being part of the Metal sector, the performance of the stock has anything but been about Metals. The historical chart of the stock shows significant volatility and movement on both sides with dips being nothing less than a sharp fall and rises equally sharp too. 

Currently the stock has just broken out of a Ascending Triangle with the pattern suggesting possibility of a move towards the 800 levels which is the minimum target with the maximum target of the same pattern coming in at 925

Image 

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About Prashanth

Have been a full time participant in the stock markets since 1996. Run a Yahoo Group where focus is exclusively on discussions of the Indian Markets using Technical Analysis as the tool (groups.yahoo.com/group/technical-investor)
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