SUPPORT IN THE RANGE HAS BEEN HELD UP FOR THE LAST 2 WEEKS . A BREAKOUT CAN BE SEEN IN THE COMING DAYS. VOLATILITY CONTRACTION PATTERN CAN BE SEEN AT THESE LEVELS. LONG AT THESE LEVELS WITH COMFORTABLE STOPLOSS WILL GIVE GOOD PROFITS IN THE COMING WEEKS. BY ANALYSING THE VOLUMES WE CAN SEE THAT THE AVERAGE VOLUME OVER THE LAST FEW WEEEKS HAS BEEN ABOVE AVERAGE. A LOT OF BIGGIES ARE BUILDING UP POSITIONS AT THESE LEVELS.
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A CLOSE BELOW THE SUPPORT MEANS YOU SHOULD GET OUT OF POSITION AT LET THE STOCK UNFOLD ITSELF.... LOOKOUT FOR A LOWER LOW IN THE COMING WEEKS AND LOW VOLUME ON RETRACEMENT WOULD BE LONG SIGNAL FOR POSITIONAL TRADERS... FOR NOW CLOSE OUT YOUR POSITION AND SHORT THE STOCK AT RESISTANCE LEVELS STOPLOSS SHOULD BE ABOVE THE RECENT SWING HIGH....!!