After the breakdown of bearish chart pattern we saw massive drop to the downside Deyaar is still recovering form the fall. For now its approaching resistance zone so if you are holding or if you have bought at lower levels my recommendation will be to offload some quantities as it approaches the supply area. For now there are good chances it may continue its...
Trend
Fundamentally this stock is getting stronger and with new projects deyaar is gaining momentum. Unfortunately for now its under selling pressure but its at a very good support area. Immediate resistance for now stands at 0.695 and then 0.705 area.
Once the resistance zone is taken out with good volumes i think sellers will be weak and will not try to short...
Chart Pattern
Is it forming inverted cup and handle pattern (scary) if yes then buckle up! we ready to go south till about 0.550 zone. This scenario will change the trend and more down side can also be seen this will be scenario B
Pattern Failure
If this is a chart pattern failure then be ready for some big moves very soon and I think it will hit 0.8xx area...
Still confusing with todays candle close and volumes its looking weaker but still in the safe zone, it can still breakout and reach 0.8 lets wait for a proper breakout and not rush I am stalking this very closely.
Hit like & follow guys;)
