Verdict:
Stock might be getting ready to move out of
corrective phase & continue its uptrend
Based on DEMAND & SUPPLY ANALYSIS,
125 & below = strong sellers area, & stock has breached this level.
And trend reversal will get confirmed when it will breach 138 lvl.
It is generally observed that if stock crosses 76.8% retracement lvl,
then 90% of the times, it will leads to trend reversal. In this case,
130 is this level.
You can create LONG above 130 with the stop loss of 117.
(For medium to long term investment.)
Stock might be getting ready to move out of
corrective phase & continue its uptrend
Based on DEMAND & SUPPLY ANALYSIS,
125 & below = strong sellers area, & stock has breached this level.
And trend reversal will get confirmed when it will breach 138 lvl.
It is generally observed that if stock crosses 76.8% retracement lvl,
then 90% of the times, it will leads to trend reversal. In this case,
130 is this level.
You can create LONG above 130 with the stop loss of 117.
(For medium to long term investment.)
Comment:
Caution: OI and VOLUME is contradicting price move.
Comment:
Sellers wont letting stock to move above 130 & buyers not letting it to move below 124. Hence I predicted this range as NO TRADING ZONE. Let it cross the 130 level, then we will see what we can do at that stage