F&O Radar | Deploy Broken Wing in United Spirits to gain advantage from the bullish placement

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Investment Ideas

United Spirits breaks out, signalling bullish momentum and trading strength.

Synopsis

United Spirits shares broke out of a consolidation phase with strong trading volumes, signalling renewed bullish momentum. Analysts say a sustained move above Rs 1,400 could trigger further upside, supported by rising RSI and positive derivatives data. Choice Broking recommends a Broken Wing strategy to play the bullish setup.

United Spirits shares are currently trading around Rs 1,387.40. After witnessing a decline from its recent swing high, the stock has been consolidating within a range for some time.However, it has now given a decisive breakout from this consolidation phase, accompanied by a noticeable surge in trading volumes, indicating renewed buying interest and a shift in sentiment towards the bullish side. 124942939“The breakout has been validated by the

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