As you all traders can clearly see it has given breakout of trend line ( Which was respected since last one year i.e 27 august 2020 ). One year breakout is generally considered huge and best part is volumes are supporting this breakout. Just check the volumes on 12-05-2021 and 14-05-2021 , these are huge volumes showing more and more buyers are interested.
Good analyses but, with the volume we can also see a huge selling wig, In such case its better to avoid the trade since that represents big shark in the market.
headymuk
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@irshadrey, Glad you noticed that but the main reason for upper wick was profit booking and retesting. Even i sold 1/3 of my holding after taking profit of more than 6%. Also now i have stop loss almost near my entry so i am in nirvana condition. I can hold it freely.
UDAYAGLE
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Good analysis ! Unfortunately world markets & Nifty not supporting