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
@jayadeepreddy, Yes, it shall further perform well. Thanks
DSKF16
⋅
GOOD OBSERVATION. SIMILAR VIEW. ALSO TRACKED ON WEEKEND
NeeteshJain
⋅
@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
R-Begusarai
⋅
yes
ashishjain26
⋅
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?
NeeteshJain
⋅
@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