Below are the findings on the basis of Price Analysis on NSE:BHARATFORG
- Stock is clearly on pullback structure formation till it breaks the low of WRC "A" with at-least average .
- Once the low of WRC "A" is broken down, stock will also out form the ascending parallel channel. And it may be either for excess trade or real-broke-down.
- Volumes are the important pillars to give a clear hint of price activity. So, we will keep close monitoring on it in coming time.
For Smaller Opportunities (Day Trading Setup)
- Considering the Bullish Popgun Pattern on Daily Time fame chart, we may plan for a setup: -
- Entry - 462.5 above if price get sustained
- Resistance(S&D area) is around 472
- Next Strongest Resistance(S&D area) is around 487-490.
Whenever you study, do it with all angles, open-minded and unbiased; And considering this thought, we should also have view of: -
- Sometimes near or at Strong S&D area direction movement get halted, paused and even throw-back. Considering this, one need to be very cautions on it as it may or mayn't be that throw-back!
- All this information is just for knowledge purposes and not for trade.
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