BREAK OUT STOCK: ESSAROIL

Essar Oil has given a break out from cup & holder formation on daily charts. Possible TGT is 173. one can buy here with SL below 142.

Also on weekly charts it has given a decent break out with good volumes one can hold the position with a deeper SL below 136 for possible higher targets.

Nifty is quite volatile these days, one should avoid short positions in nifty for the time being.

Happy Trading !

RainMaker