MANAKSTEEL - Weekly Chart Analysis, CMP-81.95
A probable classic VCP structure. Successful closure over the resistance/supply zone 49-54 on good volumes.
49-54 shall act as main support zone, but 64 will also act as a minor support from hereon.
Weekly close and follow through below it shall invalidate our view.
On the upper side, 87 - 103 - 123 - 135 levels can be tested over the long term in future.
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.
49-54 shall act as main support zone, but 64 will also act as a minor support from hereon.
Weekly close and follow through below it shall invalidate our view.
On the upper side, 87 - 103 - 123 - 135 levels can be tested over the long term in future.
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.
Disclaimer
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