CHOLAFIN has a major resistance around the 250 - 255 mark. It needs to break this resistance with good volume. After I think its going to retest the resistance which is now acting as a support. It is forming an ascending triangle formation on the daily chart and I personally have a bullish stance on it.
This is the first time for me posting the chart publicly and any constructive criticism and ideas are welcome.
This analysis is for Educational Purpose only and please consult your financial advisor before taking any position.
Thank You for viewing my chart.
This is the first time for me posting the chart publicly and any constructive criticism and ideas are welcome.
This analysis is for Educational Purpose only and please consult your financial advisor before taking any position.
Thank You for viewing my chart.
Comment:
The pattern of upwards inverse triangle broke and the price then bounced back around the 232 - 233 price range support on the daily time frame. The support of the triangle now acts as the resistance which can be broken with a good volume.