Kajaria Ceramics: Nice Action-Reaction Line
Updated
After a sharp fall, price has stabilised and tried to recover some lost ground. The close above the 200-dma is a positive sign too.
The red lines represent Action-Reaction lines. Andrews Pitchfork is a subset of these Action-Reaction lines.
Price could rally to the upper red line at 680-ish.
The red lines represent Action-Reaction lines. Andrews Pitchfork is a subset of these Action-Reaction lines.
Price could rally to the upper red line at 680-ish.
Note
Nice move since the previous update. Price is closer to the upper red line or the reaction line. Let's see how price behaves at that line.Note
Price hits the upper red line or the reaction line. This is not unusual and happens quite often. That is the power of properly drawn Action-Reaction lines
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