Falling wedge and a breakout: Jai Prakash Inds.

JaiPrakash Inds. has been showing this pattern of the falling wedge for quite sometime.

Today, a minor breakout was observed on the charts albeit with less volumes.

To watch out for:

1. RSI has a rising convergence with price (which was falling all the while with lower tops)

2. If the price sustains above 108 with substantial volumes tomorrow (15th Dec)

3. MACD crossover will begin in the above case.

In a nutshell:
BUY if price sustains above 108.

Stoploss: 100

Target (6-7 trading sessions approx): 121 where it can face resistance.