As discussed in my previous charts,
VEDL
was looking to make a move from Downtrend to an uptrend by breaking the previous high and making higher low. We were looking for a continuation of this and wanted to see more confirmation by another higher high and higher low being created.
However what we are seeing is a congestion zone (more of a rectangle channel) where price has failed to make a higher high and also found buying support at higher lows. I think still some bearishness prevails and any fresh entry in this stock must be taken seeking confirmation of trend change!
Look out for this space for more details
If you like what you see, please share a thumbs up and follow me for more updates.
Linking my previous chart as well
Cheers
VEDL
was looking to make a move from Downtrend to an uptrend by breaking the previous high and making higher low. We were looking for a continuation of this and wanted to see more confirmation by another higher high and higher low being created. However what we are seeing is a congestion zone (more of a rectangle channel) where price has failed to make a higher high and also found buying support at higher lows. I think still some bearishness prevails and any fresh entry in this stock must be taken seeking confirmation of trend change!
Look out for this space for more details
If you like what you see, please share a thumbs up and follow me for more updates.
Linking my previous chart as well
Cheers
Comment:
Critical level approaching.. Price may find support at 139ish levels...could bounce upwards..Watch out for breakouts .
