NeeteshJain
Long

ADVENZYMES - Bottoming Out

BSE:ADVENZYMES   ADVANCED ENZYME TECHNOLOGIES L
It has been observed that the price action was trending down for past 5 months and now, it showed a strong volumes at support levels indicating a buyers coming back. It has another resistance at 280 levels, if it breaks and closes above it on weekly chart then it shall confirm a change in trend and will further rise up.

Target 1: 280

Target 2: 320

Stoploss: 245
Trade active
Trade active
Trade active
Trade closed: target reached: Target 1 reached. Now, once it closes above 280 then it shall further move up to T2. Thanks
Reached T1.Boss is back;)
+1 Reply
NeeteshJain jayadeepreddy
@jayadeepreddy, Yes, it shall further perform well. Thanks
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I am worried about Weekly Three Dark Crows which recently formed. Should I see it as that all sellers are now out or bulls unable to control and reverse the trend?
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NeeteshJain ashishjain26
@ashishjain26, Not really, as you could see that on weekly chart the last bullish candle was so strong that it covered almost last two bearish candles indicating buyers in control of the price action and a reversal will be seen soon. Thanks
Reply
GOOD OBSERVATION. SIMILAR VIEW. ALSO TRACKED ON WEEKEND
+1 Reply
@DSKF16, Yes, it was on my watchlist for last one month and today I saw volumes on support, which triggered as buyers come back. Now, once it breaks 280 then a good rally can be seen. Thanks
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