Lead-in Phase: The first part of the pattern is a lead-in phase that can last 1 month or longer and forms the basis from which to draw the trend line. During this phase, prices advance in an orderly manner, and there is no excess speculation. The trend line should be moderately steep. If it is too steep, then the ensuing bump is unlikely to be significant enough. If the trend line is not steep enough, then the subsequent trend line break will occur too late.
Bump Phase: The bump forms with a sharp advance, and prices move further away from the lead-in trend line.
Bump Rollover: After speculation dies down, prices begin to peak and a top forms. Sometimes, a small Double Top or a series of descending peaks forms. Prices begin to decline towards the lead-in trend line, and the right side of the bump forms.
Support Turns Resistance: After the trend line is broken, there is sometimes a retracement that tests the newfound resistance level. Potential support-turned- resistance levels can also be identified from the reaction lows within the bump.
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Q3FY18 – REV up 24.36% @ 434 Cr (YoY), PBT up 125% @ 34.11 Cr (YoY) PAT up 125% @ 22.3 Cr (YoY), PBT margins at 28.93% Vs 15.51% (YoY)
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