Description
⋅ 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.