COLPAL nearing short support levels
COLPAL has been continuously falling from quite some time.
It is close to the support levels of 50 percent Fibonacci levels from where the run up started. The 50% levels comes around 2665 which would be a support in this fall.
Currently it is placed at a position where it may bounce from those levels for short term with atleast 9-10 pct move. Levels of resistance from those levels are at 2789-2962
If doesn't sustain, the next level to watch would be the 38% levels.
No recommendations, just my view based on chart pattern.
It is close to the support levels of 50 percent Fibonacci levels from where the run up started. The 50% levels comes around 2665 which would be a support in this fall.
Currently it is placed at a position where it may bounce from those levels for short term with atleast 9-10 pct move. Levels of resistance from those levels are at 2789-2962
If doesn't sustain, the next level to watch would be the 38% levels.
No recommendations, just my view based on chart pattern.
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