WATCH THIS BOUNCE BACK !
Cochin Shipyard is clearly forming a parallel channel pattern as you can see in the chart. Stock is now very much near its support line and can bounce back at any moment.
Note :- If stock gives breakdown of support line , don't make a long call here. If a proper reversal candlestick pattern like morning star, doji , bullish engulfing etc is seen near the support line only then make a long call.
Target will be near the resistance line , i will advise you all to book profit before the stock touches the resistance line as it can reverse before too.
Only for education , feel free to share your views/feedback.
Note :- If stock gives breakdown of support line , don't make a long call here. If a proper reversal candlestick pattern like morning star, doji , bullish engulfing etc is seen near the support line only then make a long call.
Target will be near the resistance line , i will advise you all to book profit before the stock touches the resistance line as it can reverse before too.
Only for education , feel free to share your views/feedback.
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