TV18 Broadcast - Up-Trending Channel

It is been observed that the price action is trending up in a channel on a weekly chart. On Monday, the price action breaks out and close above the important resistance level of 49 on dally chart, indicating a bullish signal and buyers dominance in price action. Now the price action shall move up as it is trending on weekly chart.

Target: 53
Stoploss: 47.50
Risk Reward: 1:3