Please pardon me for mistakes as this is my first technical analysis.
Kindly refer attached chart of Redington.
It has been moving in channel of around 135 (Purple Line) to 158 (Black Line) since few months. It broke both above and below this channel, but came back inside the channel eventually. 135 seems to be very strong support. After good Q2 results, it bounced up strongly from the 135 levels and on Friday, it closed around 158 level. Also, it seems that it has closed just above the trendline (shown in blue) with strong volumes. For me, it looks certain that it will go to the ATH of 179. but what signs one should look for to break out above 179?
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