VA Tech Wabag Limited – Breakout ?

Yesterday we saw a pretty huge quantity of VA Tech Wabag Limited change hands and today it seems set for a breakout from the symmetrical triangle it has been trading in for the last many months.

If the stock closes above 560, the target based on the pattern suggests a move in the coming months to around 850.

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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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2 Responses to VA Tech Wabag Limited – Breakout ?

  1. jbmarwood says:

    Big volume, is that a doji , could go either way lol

    • Prashanth says:

      Not exactly a Doji, but even assuming one, today’s close being well above yesterday’s high clears the confusion 🙂

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