There was a candle & container pops up to 1223 & doing sideways - so will it start moving upside - a million dollar question.
Well in coming sessions if it crosses the rejection zone of 2 times, which is 1240 mark & sustains above that -it will be a sign of move upside.
or it attempts once again to 1195-1205 zone, but staying above the & most important 1180 swing low as shown earlier in the previous chart& interim updates- that could be an opportunity to buy or take long positions.
You would love to read my previous update
Container Corp- Dividend can explode the container from 1120-1140 mark
Look at The Magical Trendline- Boom -Bounced again from 1202 -Day's lowest point- Making very strong trendline as contact points are increasing- In all there are 4 contact points including today's low.
Slowly & Steadily Container is creeping upside with 1202 as key support in the present. Trendline gave us lot of opportunities like buying at 1180's then push up & falling exactly on trendline at 1202 & bouncing off that level- you can't ask more from market as more never ends.
It took almost 1 month or 30 days for sideways move keeping 1202 intact so likely we could start an explosive move upside- need to keep a watch on the counter.
It is coming out of 30 days consolidation & can give trending move likely it looks upside for 1315-1320 halt & later more.
Abhishek H. Singh, CMT
India Regional Manager
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ