Big rise and consolidation. Bears are sitting by selling Calls at 10000 strike. Bulls are holding onto Puts at 9300 strikes. So price may again come down towards support line at 9500 to rise again. It is a 'buy on decline' and 'NOT sell on rise'.
The stock broke out of the resistance formed at around 7960-70. Then a steep rise followed. This is what happens when a resistance is taken in most of the cases. Then price pulled back due to profit booking. And bulls jumped into long positions. Price is again at resistance point. 9209 is a strong resistance.
Hello everyone this setup is based on buying the breakout of the falling wedge. Also we have a smaller bullish triangle which will act as an entry for this setup. The gartley pattern might also finish one of its leg at the target area