techtrail
Long

Dishman Pharma: Looks Set To Resume Uptrend

NSE:DISHMAN   DISHMAN PHARMA & C INR2(POST SUBDIVISION)
94 0 5
Price has drifted lower and notice the diminishing size of the red candles in that ellipse. This is a sign of lack of selling interest. Such moves typically is to test the resolve of weaker hands at prior zones.

In this case, price has revisited the prior breakout level marked by the horizontal red line. Notice the drop in volume during the recent drift down and the spike in volume as price approached the red line.

My expectation is that the price would resume its uptrend soon and clear the recent high of 268 and head further north. Watch this stock.
Comment: Here is the updated chart of Dishman. The price action highlighted yesterday is no different from the one highlighted today.
Comment: Ask yourself why price spiked in the green ellipse shown in the chart below. Homework for Dushera holidays :)

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