This analysis is done purely on basis of price action and chart patterns. The analysis is done on weekly TF hence it can take couple of days to couple of weeks to reach the target.
Logic, SL and Target is shown in image itself. Also important levels are marked in the chart and one can see how price has respected those levels.
To understand how rounding bottom gives huge moves on breakout on all timeframes, check the analysis of HDFCAMC (15 minTF), DHANUKA (Weekly). Also, check the chart of PAGE INDUSTRIES (Monthly) for more understanding. Rounding Bottom in PAGE INDUSTRIES
This analysis is for study purpose. ISGEC is a Heavy Engineering Company having two segments i.e. manufacturing of machinery & EPC.
Traders must do their own study before entering into any trade. Traders should trade with their own risk capacity and money management.
Feel Free to comment for any query or suggestion regarding this stock or Price Action Analysis/Chart Study
(1) - CERA (Monthly)
Idea is to make traders look for such patterns and identify stocks on their own