Description
⋅ With a long-run prospect, stocks look in the consolidation zone.
It is consolidating in the channel indicated by the red trendlines.
It is expected that the stock will face strong resistance at the level of 252.
Above 252, it has to break the resistance of 315. It may retest from these levels.
It will become unreliable if it breaks the bottom trendline.
Good up-move is expected if it is able to break 252 and sustain it with good volume.
A reliable uptrend will be expected only if it trends above 400 level.