Everything is explained on chart. 1) High volume breakout of previous resistance area 2) Price retracing back to previous resistance and high volume area, taking support 3) Good risk reward ratio 4) Expecting price to go up from here
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it's reached 700+ again but didn't sustained ? what to expect for now ? will it make new 52 week high of consolidate ?
LetsTrade123
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@sameerobc, I will hold it until it breaches 645. One can book partial profit at 715 and move SL accordingly. Lets track volume on daily basis. If we see good volume on any day then I think it will make new 52 week high. Nifty is also in consolidating mode so that could slow any up movement.
will it make new 52 week high of consolidate ?