Ascending triangle on JKIL

JKIL formed an ascending triangle pattern on daily chart. There was huge volume on the day of breakout indicating bulls out there. Moreover, on the sell off day the volume was low indicating sellers are not willing to sell at lower price. Note the hammer formation yesterday indicating strong buying pressure at these level. One can have stop loss just below yesterdays low and target the width of the triangle. Entry can just above yesterdays high offering an ideal risk reward of 1:2.

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