abhaydhande

Nesco - Consolidating in a range but bullish stance can be maint

NSE:NESCO   NESCO LTD
Nesco @ 555 - Weekly Chart
1 .Earlier uptrend from 400 to 800 odd levels got interrupted due to fear of pandemic. Sharp reversals are generally expected when stock is in parabolic uptrend - I mean Covid was just some excuse to book profits from this one year one bagger stock.
2. As shown by the signpost, people who bought in that super long bullish candle are defending the levels - it's almost 4 months now and the stock is consolidating in that red rectangular zone - again, the same words, waiting for some news trigger to continue with uptrend.
3. Yes, this looks quite Bullish counter. Closing above 555 - the point of control - will definitely attract more buyers in this stock. Watchout in coming days.

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter