SKF INDIA - Weekly ATH + Rising Channel Breakout

SKF India closed at an all time weekly high of 2549.05 this Friday. It has also managed to break out of a 4 year old rising channel (clearly marked on the chart). Both events represent strong upside momentum and make SKF India a great medium to long term buy at this price

Target : Fibonacci projection gives us targets of 2770 (1.618) and 3780 (2.618) and beyond

Stop Loss : Longs can be held with a WCB stop loss of 2288 (red dotted line on the chart)