[Premium] Trade Of The Week

Bharat Forge has been attempting to break out above its overhead supply zone for a while now!

Take a look at the chart below, the price has been trying really hard to absorb all that supply near 785. After multiple attempts, just as we always say- the times a level is tested the more likely it is to be breached! We're looking at a monthly chart where the price broke out of a 5-year base formation. This is crucial since this is a monthly chart trend! This means we're looking at a longer-duration outcome here.

We are bullish above the risk management level of 785, with a target close to 1,140.

Click on the chart to zoom in.

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Allstarcharts Team