Below is the chart of SUN FLAG Iron and Steel Company. The chart is a Weekly Chart. As can be seen that the Price range of the stock kept on reducing until a tapering triangle was formed and finally there is a Breakout on the above. Also the previous resistance of 32-34 during 2014-2015 was taken out decisively by one big candle during the fag end of July 2016 with volumes. After that there has been a retest and volumes have kept increasing. Technically the movement post breakout for such patterns is the width of the triangle. I usually prefer to measure the width of the triangle at the center of the triangle. Simple maths can help one reach at the target. But I am more interested in seeing how the Price behaves here and will the volumes continue. If volumes continue to remain strong and the Break out continues then the stock can do a minimum 20-25% from here. Fresh entries can be taken and can be added around 35 levels. Stop Loss for me would be 30.5-31.
Disc: I am already long the stock at 34-35 levels.
Below is the Monthly Chart of the same: