INSPIRISYS - Weekly Chart Analysis, CMP-105.50
On a monthly timeframe this chart is looking strong. On a weekly timeframe we are early to entry, as ideally our entry triggers if it closes and sustains above the resistance zone 98-120. which is almost 20% up from the current price. But only reason to share this counter early is the confirmations it has given on the shorter timeframe. It has sustained well above 80 for a few weeks now and also it has broken the down trend line and for 2 weeks and seems sustaining. The past 2 weeks volumes were good and this weeks retracement was done on very low volumes.
So idhar ek minor RISK lena to banta hai ;) warna hum trader kiss kaam ke :)
98 shall now act as a support and 80 would be considered as the lakshman rekha. A weekly close below 98 and follow through would mean our view went wrong.
On the upside 120 - 143 - 172 - 255 are the levels which can be tested over the long term.
Disclaimer: This is just a study and shared here for educational purpose. It is not a buy/sell recommendation in any way. If you intend to trade this counter then do your own due diligence and trade at your own risk.
So idhar ek minor RISK lena to banta hai ;) warna hum trader kiss kaam ke :)
98 shall now act as a support and 80 would be considered as the lakshman rekha. A weekly close below 98 and follow through would mean our view went wrong.
On the upside 120 - 143 - 172 - 255 are the levels which can be tested over the long term.
Disclaimer: This is just a study and shared here for educational purpose. It is not a buy/sell recommendation in any way. If you intend to trade this counter then do your own due diligence and trade at your own risk.