The stock price continues to move in a downtrend.
Nearest Support Level (170-175)
Nearest Resistance Level (180-185)
If the stock price does not break above the nearest resistance level then it will continue in a downtrend, breaking the nearest support level.
If the downtrend persists, stock can move further to the 160-165 level.
Hold the stocks if already invested, else fresh buying/accumulation should be carried out at at the 170-175 level and 158-162 level.
Use multiple time frame analysis for better understanding.
THANKS
P
Nearest Support Level (170-175)
Nearest Resistance Level (180-185)
If the stock price does not break above the nearest resistance level then it will continue in a downtrend, breaking the nearest support level.
If the downtrend persists, stock can move further to the 160-165 level.
Hold the stocks if already invested, else fresh buying/accumulation should be carried out at at the 170-175 level and 158-162 level.
Use multiple time frame analysis for better understanding.
THANKS
P
Comment:
Nearest Support Level is breached!