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techtrail
Apr 5, 2017 2:50 AM

Kajaria Ceramics: Nice Action-Reaction Line Long

KAJARIA CERAMICSNSE

Description

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.

Comment

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.

Comment

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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