Parallel channel in CIPLA - Chances for breakout

Chances are high to give breakout. So good to go long . Wait for breakout from channel .

Breakouts: Traders could buy a stock when its price breaks above the upper channel line of an ascending channel . It is prudent to use other technical indicators to confirm the breakout. For example, traders could require that a significant increase in volume accompanies the breakout and that there is no overhead resistance on higher time frame charts

Disclaimer: All charts are purely for educational and information purpose only. Invest or Trade at your own risk.