Pantaloon on weekly chart has formed a narrowing triangle pattern and waiting for breakout.
As shown in weekly chart stock made its 52 week low in December 2011. Stocks is also trading above its 20 weekly moving average. Since the month of december 11 there is sudden increase in volume indicating smart money moving in the stock and change in shares from weak hands to strong hands.
all this indicating upmove in coming weeks.
Stock can be bought for short term target of 220 and medium term target of 250.
Stop loss at 150 recommended.
