Looks good positionally Breakout given of four months base with huge volumes (shows institution buying) and then very low volumes during retest indicating accumulation. Can buy for 1-2 months. Expecting minimum 10-12%
Here we come across Accumulation phase as specified in Wyckoff Model. As per the model one can take a long position in Take Solutions. The details of the model is described below. The four stages of Wyckoff model (Accumulation Scheme) are: - 1. Phase A The selling force decreases, and the downtrend starts to slow down. This phase is usually marked by an...
Target level drawn in chart , looks bullish once it crosses Rs 68-69 Stop loss at Rs 44.40 Would buy on dips when price will retest the trend line drawn Increased Volume looks interesting
This analysis is done purely on basis of price action and chart patterns. The analysis is done on weekly TF hence it can take couple of days to couple of weeks to reach the target. Logic, SL and Target is shown in image itself. This analysis is for study purpose. Traders must do their own study before entering into any trade. Traders should trade with their own...
Took good breakout, longterm resistance broken. Buy above 59.7.
Take solution at critical support...in lines with the result and forthcoming development. Forsee a rally to 185 levels