Diamondyd - Prataap snacks nearing support levels
Prataap Snacks had broken the resistance levels of 945 and went on to move till the levels of 1450. On the Fibonacci levels it went from 38.2 to 100%.
Post which the stock had retraced a lot and again supported at the lower level of the channel. In recent term it has bounced from those level up and again showing signs that some good move position or negative is incoming in near term from the Fibonacci levels of 38.2%.
If it has to be in up trend then volume would be major factor and previous high of 1450 to be again considered as the resistance Target from the current levels of 860
For it to break out again the old resistance levels it has to cross the level of 908 and 938 in order to reach the first level Target of 1042. Next Target on the frame would be the next Fibonacci level. Base levels of last support is around 748. Volume to be crutial factor and major factor in deciding trend.
No recommendations, just my view based on chart pattern.
Post which the stock had retraced a lot and again supported at the lower level of the channel. In recent term it has bounced from those level up and again showing signs that some good move position or negative is incoming in near term from the Fibonacci levels of 38.2%.
If it has to be in up trend then volume would be major factor and previous high of 1450 to be again considered as the resistance Target from the current levels of 860
For it to break out again the old resistance levels it has to cross the level of 908 and 938 in order to reach the first level Target of 1042. Next Target on the frame would be the next Fibonacci level. Base levels of last support is around 748. Volume to be crutial factor and major factor in deciding trend.
No recommendations, just my view based on chart pattern.
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