India, April 21 -- An ascending triangle is a bullish continuation pattern characterised by higher lows and a flat resistance level, suggesting increasing buying pressure. The stock has confirmed a breakout above its horizontal resistance, supported by a noticeable surge in trading volume. This signals strengthening demand and points toward a potential upward move in the near term.

On Monday, Tube Investments of India Ltd broke the resistance neckline and sustained above the Rs 2,850 level on the 3-hour chart, reinforcing its bullish momentum.

Typically, traders project targets in such patterns either by identifying the next resistance level or by measuring the height of the triangle and adding it to the breakout point, provided volume ...