Wonderla Holidays

Wonderla (cmp 390) has been trading in a range for last 6 months after a rally of almost 150 pts earlier. Its 52 week high & low stands near 430 & 251 respectively.

After a big rally the stock is trading in a range. While doing that it has formed symmetrical triangle continuation chart pattern. The stock seems to be breaking out of the down trending upper trend line.
So it is  recommended to go long in the stock for a target of 450 with a stop of 370 on closing basis.

Is nifty heading towards 8100?

Last week nifty managed to protect 7650 & on Friday closed positively with a small candle. Today the index opened with a small gap & continued to to move higher & closed with a gain of nearly 135 points @ 7866.

Look at the the above chart. Its clear that nifty is making higher tops & higher bottoms since making a low on budget day. The low made on Friday is higher than the previous low of 7516.  Accordingly nifty should now make a higher high. So we can assume that 8000 will be taken out. Immediate resistance for nifty seems to be around 8045  where upper  Bollinger band is pegged. Breka of which should take nifty towards 8150 where 100 % extension of previous rally lies.