MANINFRA looks for for short term
After a long uptrend ; the stock accumulated since almost 1 year,
There is very low volume trading in accumulation (Consolidation) phase
stock gave BO with volume and massive 10% bullish marubozu candle breaking previous lower high in last trading session; but strong buying force left some inefficiency behind and created Fair value gap.
Now better to wait till filling of gap and again bullish price action in Lower time frame; possible entry can be done near 195-205 (Possible Order block entry) which may give a fair Risk:Reward ratio.
Before giving big move there was gap up opening on 25 November 2024 and it closed around 7% higher than previous day close ; but throughout trading session the gap almost filled so it may less likely that price may retrace till that level (Again nothing works 100% - it is as per my analysis- can be wrong also).
Sl can be 5-6 % lower and targets can be 20-25% from entry point.
Wait and watch...
Please do your analysis and let me know your ideas.
There is very low volume trading in accumulation (Consolidation) phase
stock gave BO with volume and massive 10% bullish marubozu candle breaking previous lower high in last trading session; but strong buying force left some inefficiency behind and created Fair value gap.
Now better to wait till filling of gap and again bullish price action in Lower time frame; possible entry can be done near 195-205 (Possible Order block entry) which may give a fair Risk:Reward ratio.
Before giving big move there was gap up opening on 25 November 2024 and it closed around 7% higher than previous day close ; but throughout trading session the gap almost filled so it may less likely that price may retrace till that level (Again nothing works 100% - it is as per my analysis- can be wrong also).
Sl can be 5-6 % lower and targets can be 20-25% from entry point.
Wait and watch...
Please do your analysis and let me know your ideas.
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