Elecon Engineering Ltd.- Ascending Triangle Flag on Daily Chart

Breakout Candle: Daily candle dated 13th August 2021
Breakout Candle Close: 161.90
Anticipated Price Target: 200
Suggested Stop Loss on daily closing basis: 155 (for the first 4 daily candles starting from 12th August 2021). Thereafter the book the profit/ exit on attainment of the price target or downward crossover of 26 EMA by 5 EMA whichever is earlier.
RR Ratio: 1:5

NOTE: This idea is an attempt to predict the future price movement. Investment decision based on this idea, if any, shall be solely at the risk of the investor.