NAZARA BO [Weekly]

NAZARA breaking out of weekly base, volumes are encouraging and next level where overhead supply might kick in with force could be around 1350.
Keep an eye on market sentiment, it ideally should be in our favor while taking a position if one likes the setup.
Keeping in watchlist for now. :)

Comment:

Failed BO, taking some support at 50DMA for now. But out of my list for now. For long term buyers, see if you like to buy at 50 DMA support levels keeping 200 DMA as a stop. I generally like the stocks who move with volume and take support at 21 DMA at most to keep the rally ahead. Let's see how this goes.
Not going to track for some time unless my tool shows volume being attracted on this.

Comment:

Not tracking now, broke a pivot level of ~790 and doesn't seem in momentum at all since the fail BO.
See how the stock gave chance to get out at 21 DMA, 50 DMA or even at 790 for whatever process works for people. Not sure where this will find support.
To give RS data points, RS score of 50 is now below 30 when considering 750 stock universe. That's how it came in my screen as well, In 4 weeks, performance relative to other stocks has been poor.