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Chennai Petroleum: A Case For Wyckoff Upthrust

NSE:CHENNPETRO   CHENNAI PETRO CP
After about 6-years, price revisits price high which comes across as the "Automatic Rally" high in Wyckoff parlance. IF this assessment is right, then expect the stock to drift to the lower end of the range. A breakout past the high of this month at 313 would indicate that the stock is in a mark-up phase and that could open up massive upside.

For now, am not too bullish . Awaiting more confirmation.

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