COLPAL forming bearish flag.

COLPAL on a daily time frame is consolidating in a narrow range for last 7 days.

The stock is trading below its 200 DMA and a bearish flag pattern is being formed.

Though, the stock held on to its hourly 200 ema and consolidated in 6-7 point range while day.

Support:- 1500, 1480-85
Resistance:- 1520, 1535

The stock can give a nice move either side.

Wait for the stock to sustain above the levels.

The trade can be intraday or swing.
For carrying the position wait for the day closing.


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